Use the table below to answer the following questions. Table 4.1.1 Demand schedule for good A. Quantity demanded (units) Price (dollars per unit) 9.00 8.00 7.00 6.00 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 17) Refer to Table 4.1.1. The price elasticity of demand when the price rises from $6 a unit to $7 a A) 0.5. B) 2.6. 01.3. D) 1.0. E) 2.0. unit is

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28. Refer to Table 4.1.1 below. If the price of good A falls from $4 to $3, A) total revenue will increase. B) total revenue will remain constant. c) demand is elastic in this range. D) demand is unit elastic in this range. E) demand is inelastic in this range. Table 4.1.1 Demand schedule for good A. Quantity demanded (units) Price (dollars per unit) 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000

Use the table below to answer the following questions. Table 4.1.1 Demand schedule for good A. Price Quantity demander (dollars per unit) (units) 9.00 8.00 2,000 7.00 4,000 6.00 6,000 5.00 8,000 4.00 10,000 3.00 12,000 2.00 14,000 1.00 16,000 18,000 39) Refer to Table 4.1.1. If the price of good A falls from $4 to $3, A) demand is unit elastic in this range. B) total revenue will increase. C) demand is inelastic in this range. D) total revenue will remain constant. E) demand is elastic in this range.

consider the table below, which applies to a domestic labor market, and answer the questions that follow.

weekly wage rate quantity of labor demanded by firms quantity of labor supplied by workers

500 8,000 26,000

450 12,000 24,000

400 16,000 22,000

350 20,000 20,000

300 24,000 18,000

250 28,000 16,000

200 30,000 14,000

a) What is the current equilibrium quantity of labor? what is the current market wage rate?

b) Suppose that two events occur: 1) Opportunities to work abroad induce 4,000 domestic residents to move to foreign labor markets, irrespective of domestic wages : and (ii) Increased demand for the products of domestic firms induces them to offer to hire 2,000 more workers each week at any domestic wage rate?