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1 answer:
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Answer:
The percentage increase in worker wages in hourly rate of pay is 16.5%
Step-by-step explanation:
Given as :
The Initial wages earn by worker = $ 5.15 per hour
The Final wages earn by worker = $ 6 per hour
Let The percentage increase in her hourly rate of pay = x %
Now, According to question
x % =
or, x = × 100
or, x = × 100
or, x = 0.165 × 100
∴ x = 16.5%
So , Percentage increase in wages = x = 16.5 %
Hence The percentage increase in worker wages in hourly rate of pay is 16.5% Answer
Answer:
The percent change in quantity is -0.14%.
Step-by-step explanation:
The formula to compute the change in quantity is:
The income elasticity of demand is 2.80.
Percent change in price is -5% (since the prices decreases)
Compute the percent change in quantity demanded as follows:
Thus, the percent change in quantity is -0.14%.