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Sagot :
Assuming the number of people employed falls by 2%. The elasticity of employment with respect to the minimum wage is -0.33.
Elasticity of employment
Using this formula
Elasticity of employment=-Fall in number of employed people rate /Minimum wages rate
Where:
Fall in number of employed people=-2%
Minimum wages rate=6%
Let plug in the formula
Elasticity of employment=(-2/6)
Elasticity of employment=-0.33
Inconclusion the elasticity of employment with respect to the minimum wage is -0.33.
Learn more about Elasticity of employment here:https://brainly.com/question/8729849
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