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Unformatted text preview: a week? x 40, 50, 60 hours? Theres a limit to how much you can work in a week. x Ceteris paribus ex. if theres very high inflation, increase in wage reflect inflation and therefore will not increase output (hours worked) An increase in price wage is the price of labor will ceteris paribus increase the quantity of labor supplied and vice versa. Page 36...
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- Fall '10