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differentiate the elasticity between teenage workers and that of middle-aged adult workers in the workforce

differentiate the elasticity between teenage workers and that of middle-aged adult workers in the workforce

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Answer #1

The elasticity is defined as:

Percentage change in quantity/Percentage change in price

When the wage changes, the quantity of labor for teenage workers would be elastic Because if wage increases, the teenage workers would be willing to work for more hours and they would be most willing to change the job.

On the other hand, the elasticity of middle-aged workers in the workforce would be inelastic because if there is a slight increase or decrease in wages, these workers would be less willing to change as they are in their prime earning age.

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