• If the wage you are/could receiving fell dramatically, would you reduce your hours a lot? A little?Quit? Why or why not? If the wage you make/could receive doubled, would you work a lot more hours? Why or why not? Most importantly, what does this implyabout the elasticity of your individual labor supply curve? Are you personally, do you think, very wage responsive or not?
• Suppose you get that big raise at work (or get offered a high paying job if you aren't currently working). Might that affect your grades? Why? Why not?