A firm's technology requires it to combine 5 person-hours of labor with 3 machine-hours to produce 1

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A firm's technology requires it to combine 5 person-hours of labor with 3 machine-hours to produce 1 unit of output. The firm has 15 machines in place and the wage rate rises from $10 per hour to $20 per hour. What is the firm's short-run elasticity of labor demand?
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Labor Economics

ISBN: 978-0073523200

6th edition

Authors: George J. Borjas

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