Workers act as sellers of their time in the labor market in return for some wage. Let’s discover your individual supply curve for labor. For each hourly wage rate provided in the accompanying table, determine how many hours you would be willing to work each week. Then, plot your individual supply curve for labor. Are there wage rates at which you would not be willing to work at all? Use the concept of opportunity cost to briefly explain your reasoning.

Transcribed Image Text:

Hourly wage rate $10 $20 $30 $40 Hours willing to work each week