FACTOR MARKET PROBLEM

FACTOR MARKET 1. 1. The following table represents the individual supply of working hours, for different hourly wage rates where the specialized worker can choose between leisure or a greater number of working hours. HOURLY WAGE WORK HOURS 2 3 4 7 6 10 8 11 10 12 12 11 14 10 16 8 a. Graph the individual job offer and explain it b. According to Samuelson, the worker will be influenced by two different effects: Income and Substitution. Answer in each case.. . If the salary is between $ 2 and $ 10, what effect predominates? Why? When the salary is between $ 10 and $ 16, what effect predominates? Why