The market consists of allen and bernard allen has the, Business Economics

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The market consists of allen and bernard allen has the

The market consists of Allen and Bernard. Allen has the labor supply curve described in the following function:

w = 10 + 2hA, while Brenda has the following labor supply curve

w = 20 + 2hB. Note that we can rewrite the labor supply curves as

hA = 1(w−10) 2

hB = 1(w−20) 2

(a) What is Allen’s reservation wage? What is Bernard’s reservation wage?

(b) What is the market labor supply curve?

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