In Houston, 150 people are willing to work an hour as cashiers if the wage is $20 per hour. Foreach additional $5 that the wage rises above $20, an additional 50 people are willing to work anhour.For wages of $20, $25, $30, $35, and $40 per hour, plot the daily labor supply curve for cashierson the following graph.50Supply402010180 190 20 190 300 190 40 490 saoLABOR (Number of workers)What is one explanation for why this labor supply curve is upward sloping?Wages have to increase to accommodate union pressure.Labor production functions exhibit diminishing marginal returns.o Unemployment benefits are steadily declining.o The opportunity cost of leisure decreases as wages decrease.(noy od sog aowm

in Houston 150 people are willing to work an hour as cashiers if the wage is $20 per hour. For each additional $5 that the wage rises above $20 , an additional 50 people are willing to work an hour .

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Economics

In Houston, 150 people are willing to work an hour as cashiers if the wage is $20 per ha each additional $5 that the wage rises above $20, an additional 50 people are willing to hour. For wacOs of 20 and C40por hour glot the daiy sborcuuoply c po fo

In Houston, 150 people are willing to work an hour as cashiers if the wage is $20 per ha each additional $5 that the wage rises above $20, an additional 50 people are willing to hour. For wacOs of 20 and C40por hour glot the daiy sborcuuoply c po fo

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter4: Labor And Financial Markets

Section: Chapter Questions

Problem 15RQ: Name some factors that can cause a shift in the demand curve in labor markets.

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Question

In Houston, 150 people are willing to work an hour as cashiers if the wage is $20 per hour. For
each additional $5 that the wage rises above $20, an additional 50 people are willing to work an
hour.
For wages of $20, $25, $30, $35, and $40 per hour, plot the daily labor supply curve for cashiers
on the following graph.
50
Supply
40
20
10
180 190 20 190 300 190 40 490 sao
LABOR (Number of workers)
What is one explanation for why this labor supply curve is upward sloping?
Wages have to increase to accommodate union pressure.
Labor production functions exhibit diminishing marginal returns.
o Unemployment benefits are steadily declining.
o The opportunity cost of leisure decreases as wages decrease.
(noy od sog aowm

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