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(10) Hilary is a college student who lives in Dallas and teaches tennis lessons for extra cash. At a wage of $50 per hour, she
(10) Hilary is a college student who lives in Dallas and teaches tennis lessons for extra cash. At a wage of $50 per hour, she is willing to teach 7 hours per week. At $65 per hour, she is willing to teach 10 hours per week.
using the midpoint formula, the elasticity of Hilarys labor supply between the wages of $50 and $65 per hour is approximately
a 0.09
b 0.74
c 1.35
d 42.5
This means that's Hilarys supply of labor over this wage range is
a elastic
b in elastic
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