Explain how do solve people employed elasticity of demand

Reference no: EM1338204

Demand and supply of labor

How do you solve for a, b, c, e in the equations: Qd = a-bW and Qs = c+eW when you know the equilibrium wage (or price) is $4, there are 100,000 people employed, Elasticity of demand is equal to -0.4 and Elasticity of supply is equal to 0.2?

Reference no: EM1338204

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Explain how do solve people employed elasticity of demand : Explain how do you solve for a, b, c, e in the equations: Qd = a-bW and Qs = c+eW when you know the equilibrium wage (or price) is $4, there are 100,000 people employed, Elasticity of demand is equal to -0.4 and Elasticity of supply is equal to 0...

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