The wage elasticity of labor supply for men aged

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Reference no: EM13818021

The wage elasticity of labor supply for men aged 18-25 is measured to be 0.3. Within this group, the average weekly wage of the high school graduates is 2/3 the amount of college graduates. Assume that wage elasticity and all other individual characteristics (like intelligence, taste for work, networking skills, etc.) are the same across the education groups. If male college graduates offer 45 hours of work per week, what would be the quantity supplied of labor for male high school graduates? Please use the midpoint formula when calcuting your answer.

Reference no: EM13818021

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