Problem
Every summer, pool managers and park directors hire lifeguards. Many of the workers are high school and college students looking for summer jobs. In the diagram, draw a demand curve for lifeguards that illustrates how those making the employment decisions will choose to be open for fewer hours and hire fewer guards, the higher the wage that is paid. Draw a supply curve that illustrates how students would be willing to sacrifice more hours of summer leisure the higher the wage rate. Identify the market equilibrium wage and hours of labor.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.