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As with the own-wage elasticity of demand for labor, the elasticity of supply of labor can be similarly classified. The elasticity of supply of labor is elastic if elasticity is greater than 1. It is inelastic if the elasticity is less than 1, and it is unitary elastic if the elasticity of supply equals 1. For each of the following occupations, calculate the elasticity of supply, and state whether the supply of labor is elastic, inelastic, or unitary elastic. ES and W are the original supply of workers and wage. E'S and W' are the new supply of workers and wage.
a. %ΔES = 7, %ΔW = 3
b. ES = 120, W = $8 E'S = 90, W' = $6
c. ES = 100, W = $5 E'S = 120, W' = $7
Review the assigned article "Inside Chipoltle's Contamination crisis: Smugness and Happy Talk About Sustainability Aren't Working anymore" from Bloomberg Businessweek.
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Different browsers provide different levels of support for HTML, CSS, and JavaScript®. In addition, users can turn off support for JavaScript®
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