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Hilary is a graduate student living in Miami who works as a caddy to supplement their normal income. At an hourly wage rate of $4
Hilary is a graduate student living in Miami who works as a caddy to supplement their normal income. At an hourly wage rate of $4 to caddy 9 hours per week. Upping the wage to $55 per hour, they are willing to caddy 17 hours per week. Using the midpoint method, the elasticity of Hilary's labor supply between the wages of $40 and $55 per hour is approximately that Hilary's supply of labor over this wage range is Tips Grade
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