ECO help Elasticity aplia homework?
Posted by EH101 Blogger
mary L asked:
Bob is a stay-at-home dad who does some telecommuting consulting work for extra cash. At $50 per hour, he is willing to work for 6 hours a week. At $60 per hour, he will do 8 hours of work. Using the midpoint method, what is his elasticity of supply?
Bob is a stay-at-home dad who does some telecommuting consulting work for extra cash. At $50 per hour, he is willing to work for 6 hours a week. At $60 per hour, he will do 8 hours of work. Using the midpoint method, what is his elasticity of supply?
A. 4.33
B. 0.18
C. 1.57
D. 0.66
SAIDI
