Calculate the elasticity of labor demand when w changes

Reference no: EM133711870

Question: Derived from Borjas, exercise 4-6. Aggregate labor demand equals ED = 1000-50w. Aggregate labor supply is given by ES = 100w-800. (b) (2.5 points). Calculate the elasticity of labor demand when w changes from w = 14 to w = 16.

Reference no: EM133711870

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