Unformatted text preview: much do each of them make per week? (3) What are their reservation wages? (4) Starting from their preferred choice of work hours at $10 per hour (from part 2), suppose they were o/ered overtime at $20 per hour how many hours of overtime would each of them want to put in? How much would each of them earn? (5) Plot out the labor supply curves for Johnny and Jenny. Do either of them have backward bending labor supply curves? 1...
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This note was uploaded on 04/16/2008 for the course AECO 370 taught by Professor Masters during the Spring '08 term at SUNY Albany.
- Spring '08