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In Miami, 180 people are willing to work an hour as hostesses if the wage is $20 per hour. For each additional $5 that the wage rises above $20, an additional 45 people are willing to work an hour. For wages of $20, $25, $30, $35, and $40 per hour, plot the daily labor supply curve for hostesses on the following graph. ? WAGE (Dollars per hour) 45 40 6 30 25 2 15 10 5 O 0 45 135 315 360 180 225 270 LABOR (Number of workers) 405 Supply What is one explanation for why this labor supply curve is upward sloping over the range of wages from low wage to high wage? O Unemployment benefits are steadily declining. People prefer to spend time doing leisure activities rather than working. O Firms are willing to hire more hostesses at a lower wage. O The opportunity cost of leisure decreases as wages decrease.

In Miami, 180 people are willing to work an hour as hostesses if the wage is $20 per hour. For each additional $5 that the wage rises above $20, an additional 45 people are willing to work an hour. For wages of $20, $25, $30, $35, and $40 per hour, plot the daily labor supply curve for hostesses on the following graph. ? WAGE (Dollars per hour) 45 40 6 30 25 2 15 10 5 O 0 45 135 315 360 180 225 270 LABOR (Number of workers) 405 Supply What is one explanation for why this labor supply curve is upward sloping over the range of wages from low wage to high wage? O Unemployment benefits are steadily declining. People prefer to spend time doing leisure activities rather than working. O Firms are willing to hire more hostesses at a lower wage. O The opportunity cost of leisure decreases as wages decrease.

Microeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter12: The Supply Of And Demand For Productive Resources
Section: Chapter Questions
Problem 7CQ
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In Miami, 180 people are willing to work an hour as hostesses if the wage is $20 per hour. For each additional $5 that the wage rises above $20, an additional 45 people are willing to work an hour. For wages of $20, $25, $30, $35, and $40 per hour, plot the daily labor supply curve for hostesses on the following graph. WAGE (Dollars per hour) 50 45 40 30 25 20 15 10 135 180 225 270 315 360 405 450 LABOR (Number of workers) Supply ? What is one explanation for why this labor supply curve is upward sloping over the range of wages from low wage to high wage? Unemployment benefits are steadily declining. People prefer to spend time doing leisure activities rather than working. O Firms are willing to hire more hostesses at a lower wage. The opportunity cost of leisure decreases as wages decrease.
Transcribed Image Text:In Miami, 180 people are willing to work an hour as hostesses if the wage is $20 per hour. For each additional $5 that the wage rises above $20, an additional 45 people are willing to work an hour. For wages of $20, $25, $30, $35, and $40 per hour, plot the daily labor supply curve for hostesses on the following graph. WAGE (Dollars per hour) 50 45 40 30 25 20 15 10 135 180 225 270 315 360 405 450 LABOR (Number of workers) Supply ? What is one explanation for why this labor supply curve is upward sloping over the range of wages from low wage to high wage? Unemployment benefits are steadily declining. People prefer to spend time doing leisure activities rather than working. O Firms are willing to hire more hostesses at a lower wage. The opportunity cost of leisure decreases as wages decrease.
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