Sam has two jobs, one for the winter and one for the summer. In the winter, he works as a lift attendant at a ski resort where h

Question

3 years ago

8

Sam has two jobs, one for the winter and one for the summer. In the winter, he works as a lift attendant at a ski resort where h

e earns $13 per hour. During the summer, he drives a tour bus around the ski resort, earning $11 per hour. Assume that Sam has an upward-sloping labor supply curve. If the opportunity cost of Sam's leisure time increases, he will respond by working:__________

Business

1 answer:

viktelen [127] · Answer 1 · 2022-04-28T02:48:14+03:00

Answer:

more hours

Explanation:

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives

time is a limited resource that has to be shared between work and leisure. If the opportunity cost of leisure increases, it means he is giving up more work to rest. As a result, he would increase his work hours