A labor supply elasticity of 1.4 means that a wage increase of:
A. 10 percent will increase the quantity of labor supplied by 14 percent.
B. 10 percent will reduce the quantity of labor supplied by 14 percent.
C. 14 percent will reduce the quantity of labor supplied by 10 percent.
D. 14 percent will increase the quantity of labor supplied by 10 percent.
Answer: A
Economics
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