Which of the following represents labor supply?
A) $L ^ { 5 } = \bar { \ell } \cdot \frac { w } { c }$
B) $L ^ { 5 } = \bar { \ell } \cdot w$
C) $L ^ { 5 } = w$
D) $L ^ { 5} = \frac { w } { \bar { \ell } \cdot c }$
E) $L ^ { 5 } = w \cdot \bar { \ell } \cdot c$

Question

Quizplus · Accepted Answer

Labor supply is represented by the equation $L ^ { 5 } = \bar { \ell } \cdot \frac { w } { c }$, where $L ^ { 5 }$ is the quantity of labor supplied, $\bar { \ell }$ is the fixed labor force, $w$ is the wage rate, and $c$ is a constant.

Which of the Following Represents Labor Supply? A) L5=ℓˉ⋅wcL ^ { 5 } = \bar { \ell } \cdot \frac { w } { c }L5=ℓˉ⋅cw​

Which of the Following Represents Labor Supply?
A) $L ^ { 5 } = \bar { \ell } \cdot \frac { w } { c }$