If wages increase by 10%, a(n) worker is likely to supply 7% more labor because elasticity of labor supply is assumed to be
a. adult; inelastic.
b. adult; elastic.
c. teenager; elastic.

B. adult; elastic.

Explanation: As wage increases, the adult worker will want to give more labor, which means the supply of labor will be increased and the demand will reduce.Wage increase is proportional to the increase in the supply of labor, most workers or laborers will want to give more or supply more labor and the employers will try to reduce their demand for labor. Elasticity of Labor supply is assumed to be greater than 1 as wage increases.

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

answer90,000;