What is one explanation for why this labor supply curve is upward sloping? O Firms are willing to hire more hostesses at a lower wage. O Wages have to increase to accommodate union pressure. O Labor production functions exhibit diminishing marginal returns. O The opportunity cost of leisure decreases as wages decrease.
What is one explanation for why this labor supply curve is upward sloping? O Firms are willing to hire more hostesses at a lower wage. O Wages have to increase to accommodate union pressure. O Labor production functions exhibit diminishing marginal returns. O The opportunity cost of leisure decreases as wages decrease.
Chapter12: Labor Markets And Labor Unions
Section: Chapter Questions
Problem 1.1P
Related questions
Question
![7°F
WAGE (Dollars per ha
30
20
15
10
5
0
0
45
ostly sunny
90
135 180 225 270 315 360 405 450
LABOR (Number of workers)
What is one explanation for why this labor supply curve is upward sloping?
O Firms are willing to hire more hostesses at a lower wage.
O Wages have to increase to accommodate union pressure.
O Labor production functions exhibit diminishing marginal returns.
O The opportunity cost of leisure decreases as wages decrease.
▸](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc74ae3fd-864a-42bb-b67f-d2cae6abbaa7%2Fd2cd4303-e2d1-41c1-9674-98c8358e99e9%2Fdv7oonv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:7°F
WAGE (Dollars per ha
30
20
15
10
5
0
0
45
ostly sunny
90
135 180 225 270 315 360 405 450
LABOR (Number of workers)
What is one explanation for why this labor supply curve is upward sloping?
O Firms are willing to hire more hostesses at a lower wage.
O Wages have to increase to accommodate union pressure.
O Labor production functions exhibit diminishing marginal returns.
O The opportunity cost of leisure decreases as wages decrease.
▸
![In Houston, 180 people are willing to work an hour as hostesses if the wage is $10 per hour. For each additional $5 that the wage rises above $10, an
additional 45 people are willing to work an hour.
For wages of $10, $15, $20, $25, and $30 per hour, plot the daily labor supply curve for hostesses on the following graph.
WAGE (Dollars per hour)
50
45
40
35
30
20
15
10
5
0
77°F
Mostly sunny
0
45
90
315
225 270
135 180
LABOR (Number of workers)
360 405 450
--
Supply
C
O](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc74ae3fd-864a-42bb-b67f-d2cae6abbaa7%2Fd2cd4303-e2d1-41c1-9674-98c8358e99e9%2Frmmcirc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In Houston, 180 people are willing to work an hour as hostesses if the wage is $10 per hour. For each additional $5 that the wage rises above $10, an
additional 45 people are willing to work an hour.
For wages of $10, $15, $20, $25, and $30 per hour, plot the daily labor supply curve for hostesses on the following graph.
WAGE (Dollars per hour)
50
45
40
35
30
20
15
10
5
0
77°F
Mostly sunny
0
45
90
315
225 270
135 180
LABOR (Number of workers)
360 405 450
--
Supply
C
O
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