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1.Economic laws have been true throughout human history. As an example, consider the following passage, from...

1.Economic laws have been true throughout human history. As an example, consider the following passage, from Professor Samaddar’s lectures on the economy of Ancient India:

“Weaving in India has been encouraged from time immemorial... As is the case now-a-days, labourers working overtime were given extra payment... and special rewards were given for working on holidays.” (p.117)

Using a supply and demand diagram in the market for labour, clearly explain why Indian Workers working overtime or during holidays were paid extra. (15%)

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