Problem
(Wages and Labor Supply) Interview five of your classmates to determine the nature of their labor supply curves for a summer job. Ask each of them how many hours of work he or she would be willing to supply at wage rates of $10, $15, $20, $25, and $30 per hour. Plot the results on a labor supply diagram. Do any of these individuals exhibit a backward-bending labor supply curve? Is the market supply curve for these five individuals backward bending?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.