Answer
15%
70
700
Work Step by Step
$\frac{345000-300000}{300000}=\frac{45000}{300000}=0.15=15\%$
$\Delta qty=E_d\times \Delta price$
$\Delta qty=2.0\times15=30\%$
$100-(100\times0.30)=100-30=70$
$70\ boats \times 10\frac{workers}{boat}=700$
Microeconomics: Principles, Applications, and Tools (8th Edition)
by O'Sullivan, Arthur; Sheffrin, Steven; Perez, Stephen
Published by
Prentice Hall
ISBN 10:
0-13294-886-9
ISBN 13:
978-0-13294-886-9
Chapter 6 - Market Efficiency and Government Intervention - Exercises - 6.5 Who Really Pays Taxes? - Page 150: 5.6a
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