Question: By how much would the quantity of labor demanded decrease if a minimum wage hike raised prevailing wages from $8 to $10 an hour and

By how much would the quantity of labor demanded decrease if a minimum wage hike raised prevailing wages from $8 to $10 an hour and if the elasticity of labor demand were 0.50? Instructions: Round your response to two decimal places. Enter your answer as a positive percent (do not include a negative sign). Use the midpoint formula

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