16. The elasticity of labor supply implied by the following table taken from Ashenfelter et al. (Economica 2010) is Change in Revenue per Mile | Change in Miles Driven 1996 Fare Increase |+ S0.15*** 2004 Fare Increase |+ $0.15*** (+ 19.0 %) (+20.9 %) (-5,2%) (-5.1 %) - 758 miles* - 758 miles** a. 19.0/20.9 b. 20.9/19.0 c. -5.2/19.0 d. -5.2/5.1 e. -5.1/5.2

16. The elasticity of labor supply implied by the following table taken from Ashenfelter et al. (Economica 2010) is Change in Revenue per Mile | Change in Miles Driven 1996 Fare Increase |+ S0.15* 2004 Fare Increase |+ $0.15* (+ 19.0 %) (+20.9 %) (-5,2%) (-5.1 %) - 758 miles* - 758 miles** a. 19.0/20.9 b. 20.9/19.0 c. -5.2/19.0 d. -5.2/5.1 e. -5.1/5.2

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter10: Cost Functions

Section: Chapter Questions

Problem 10.11P

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Deborah is a stay-at-home parent who lives in San Francisco and does some consulting work for extra cash. At a wage of $20 per hour, she is willing to work 2 hours per week. At $35 per hour, she is willing to work 11 hours per week.Using the midpoint method, calculate elasticity of Deborah's labor supply.
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