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What is her labor supply elasticity

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Wit an initial wage rate of $15 per hour, Lisa works 45 hours per week and leisures the remaining 72hours (she sleeps 8 hours per evening). When her wage increases to $20 per hour she works 50 per week.What is her labor supply elasticity? What does this value tell you about the shape of her labor supplycurve and her sensitivity to changes in the wage?

 

Reference no: EM13986426

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