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Derivation of elastic demand curve for unions.

Union A faces a demand curve in that a salary of $4 per hour leads to demand for 20,000 person hours and a wage of $5 per hour leads to demand for 10,000 person hours. Union B faces a demand curve in which a wage of $6 per hour leads to demand for 30,000 person hours, while a wage of $5 per hour leads to demand for 33,000 person hours.

Which union faces the more elastic demand curve?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M917900

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