Find the total hours per week supplied to the market.
The subsequent table shows the hours per week supplied to a particular market by three individuals at various wage rates. Compute the total hours per week (QT) supplied to the market.
|
Hour wages
|
Hours per week
|
|
Q1
|
Q2
|
Q3
|
Qt
|
|
$5
|
20
|
0
|
0
|
-
|
|
6
|
25
|
0
|
0
|
-
|
|
7
|
35
|
10
|
0
|
-
|
|
8
|
45
|
25
|
10
|
-
|
|
9
|
42
|
40
|
30
|
-
|
|
10
|
38
|
37
|
45
|
-
|
Which individuals, if any, have backward-bending supply curves in the wage range shown? Does the market supply curve bend backward in the wage range shown in the table?