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4. Alice's wages are represented by W = 1/3 (abH1/3) a. What is her labor supply elasticity? Show all your math. b. Is her labor supply elastic or

4. Alice’s wages are represented by W = 1/3 (abH1/3)



a. What is her labor supply elasticity? Show all your math.



b. Is her labor supply elastic or inelastic?



c. Interpret the elasticity's numerical value from part b.



d. Which effect dominates? The substitution effect or income effect?
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CH280410_489642_ECO.doc

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4. Alice’s wages are represented by W = 1/3 (abH1/3)
a. What is her labor supply elasticity? Show all your math.
b. Is her labor...

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