--%>
Assignment Help - homework help

Supply of labor by increase in wages rate

If the wage rate increases from $25 per hour to $40 per hour, in that case the elasticity of the supply of labor from this worker is roughly: (i) zero. (ii) 7/15. (iii) 13/15. (iv) one. (v) minus 13/15.

837_Problem on Supply of Labor.png

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

   Related Questions in Managerial Economics

  • Q : Explain Exceptional Demand Curve

    Explain Exceptional Demand Curve.

    		•
  • Q : Equilibrium prices and quantities

    French toast and pancakes and both are close substitutes. Assume that good weather yields a bumper crop of pancakes and decreases the price of pancakes. Into the market for French toast: (1) equilibrium price and quantity both increase.(2) competition increases the su

    		•
  • Q : Illustration of specific training The

    The knowledge gained while an Apple employee learns a specialized technique on an iPod assembly line is an illustration of: (w) comparative technological advantage. (x) specific training. (y) on-the-job leveraging. (z) general training.

    Q : How most goods and resources are

    In countries employing decentralized markets for nearly all decision making: (1) Private individuals select how most resources and goods are allocated. (2) Nonhuman resources should be individually owned. (3) Elaborate economic plans are planned and enforced by law. (

    		•
  • Q : Allocative and technical efficiency in

    Economy-extensive efficiency needs both allocative and technical efficiency within production and: (w) equity within the distribution of national income. (x) biological efficiency, in that people's basic desires should be met. (y) pol

    		•
  • Q : Illustrates opinion of Samuelson to

    Illustrates the opinion of Samuelson for explaining Law of Demand?

    		•
  • Q : Want exact answer answer written below

    answer written below is correct for the question detail exception of demand curve ?

    		•
  • Q : What are the types of elasticity of

    What are the types of elasticity of demand?

    		•
  • Q : What are the important areas of

    What are the important areas of decision making?

    		•
  • Q : External factors in governing prices

    What are the external factors in governing prices?

    		•