Which means that yakov supply of labor over this wage range

Reference no: EM133440444

Question: yakov is a retired teacher living in New York City who teaches clarinet lessons to supplement their normal income. At an hourly wage rate of $40, they are willing to teach 6 hours per week. Upping the wage to $55 per hour, they are willing to teach 8 hours per week.

Using the midpoint method, the elasticity of Yakov's labor supply between the wages of $40 and $55 per hour is approximately (.16,.9,1.11,52.5) , which means that Yakov's supply of labor over this wage range is

Reference no: EM133440444

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