'Nba payroll cap' presentation slideshows

Profit Maximization and Labor Demand

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The Labor Supply Curve

The Labor Supply Curve The decision to work can be examined from two perspectives: The opportunity cost of work. If one does not work one forfeits the wage the worker would be paid. Substitution effect = ?H/?W | Y constant > 0 Where H = Hours Worked W = Wage Paid Y = Income

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