Using the midpoint method

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Paolo is a stay-at-home parent who lives in Philadelphia and provides math tutoring for extra cash. At a wage of $25 per hour, he is willing to tutor 6 hours per week. At $35 per hour, he is willing to tutor 16 hours per week.

Using the midpoint method, the elasticity of Paolo's labor supply between the wages of $25 and $35 per hour is approximately , which means that Paolo's supply of labor over this wage range is.

Reference no: EM131005483

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