Explore BrainMass
Share

Opportunity costs and the optimal allocation of time

A labor market observer notes that amongst a specific demographic group that the quantity of labor supplied by that group has decreased as the market wage has increased. Explain the behaviour of this group and provide a real world example.

© BrainMass Inc. brainmass.com August 14, 2018, 2:30 am ad1c9bdddf

Solution Summary

Opportunity costs and the optimal allocation of time are assessed.

$2.19