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Figure 2 labor supply - PowerPoint PPT Presentation

Figure 1: The Capacity Curve The Piece Rate

Work Capacity. v 3. v 1. v*. Income. Figure 1: The Capacity Curve The Piece Rate. Piece Rate. Aggregate Labor Supply. Figure 2: Labor Supply. Figure 3: Possible Equilibria. Employment Income. Figure 4: Effect of Non-Labor Income on the Capacity Curve. Land Owned.

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Figure 2 labor supply - PowerPoint PPT Presentation

Figure 1: The Capacity Curve The Piece Rate