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Business, 18.02.2021 20:30 emmazhu1106

Carlos is a college student who lives in Philadelphia and does some consulting work for extra cash. At a wage of $50 per hour, he is willing to work 7 hours per week. At $65 per hour, he is willing to work 10 hours per week. Using the midpoint method, the elasticity of Carlos’s labor supply between the wages of $50 and $65 per hour is approximately , which means that Carlos’s supply of labor over this wage range is .

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