The upward sloping labor supply curve is therefore an indication that an

The upward sloping labor supply curve is therefore an

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The upward-sloping labor supply curve is therefore an indication that an employee responds positively by offering more work to their employer if their wages are high
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One can analyze team sports markets in several ways To analyze career length Players have no say over work hours The axes become salary per season and the number of seasons To analyze the number of players hired in a season The axes become salary per season and the number of players willing to work at a given salary See Figure b in the next slide Slide 3 Fighters can choose how many fights they engage in The axes become reward per fight and number of fights The boxing example in the attached figure depicts that a fighter is motivated to engage in several bouts as the wage increases The player moves from point A to point B This was the case for de la Hoya Labor supply for Joe Louis shifted because his savings/wealth was lower due to tax problems He moved from point A to point A’ The work decision is a trade-off between income and leisure Wage is the opportunity cost of leisure As wages rise, leisure becomes more expensive
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