Does answer depend on whether worker was initially at

Reference no: EM13454411

In a proposed cost cutting exercise, a firm offers its workforce the following deal: a cut in regular wages but a considerable increase for all overtime work. Suppose that a labourer initially worked L0 hours at the going real wage of ?0 (?=w/p) and that overtime is paid for all hours above L0.

(a) What will happen to the labour supplied by this individual?

(b) Does your answer depend on whether the worker was initially at the upward sloping part of his, or her, labour supply or at the backward bending part of it?

Reference no: EM13454411

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