Labor supply between the wages

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Reference no: EM13868511

Musashi is a stay-at-home parent who lives in San Diego and does some consulting work for extra cash. At a wage of $40 per hour, he is willing to work 7 hours per week. At $50 per hour, he is willing to work 10 hours per week.

Using the midpoint method, the elasticity of Musashi's labor supply between the wages of $40 and $50 per hour is approximately_____________ , which means that Musashi's supply of labor over this wage range is__________.

Reference no: EM13868511

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