7. The accompanying table shows the relationship between workers hours of work per week and their hourly

Question:

7. The accompanying table shows the relationship between workers’

hours of work per week and their hourly wage rate. Apart from the fact that they receive a different hourly wage rate and work different hours, these five workers are otherwise identical.

image text in transcribed

a. Which variable is the independent variable? Which is the dependent variable?

b. Draw a scatter diagram illustrating this relationship. Draw a (nonlinear) curve that connects the points. Put the hourly wage rate on the vertical axis.

c. As the wage rate increases from $15 to $30, how does the number of hours worked respond according to the relationship depicted here? What is the average slope of the curve between Athena’s and Boris’s data points using the arc method?

d. As the wage rate increases from $60 to $75, how does the number of hours worked respond according to the relationship depicted here? What is the average slope of the curve between Diego’s and Emily’s data points using the arc method?

Step by Step Answer:

Related Book For  book-img-for-question

Economics

ISBN: 978-0716771586

2nd Edition

Authors: Paul Krugman ,Robin Wells

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