Why is this "parabola" sideways?
Normally, f(x)=y, would be that x is graphed horizontally, and you would write that "wage rate is a function of hours worked", which is how I would normally think about wages and hours. However, this graph seems to read that the hours worked are a function of the rate.
Perhaps a graph of the wage itself against hours might be more useful.
Is there some point to graphing this "sideways"?
(Of course, it might not be a parabola, I'm just guessing.)
The wikipedia entry says it's "S-shaped", which I interpret to mean it goes up and down, maybe more like a sine-wave or something along those lines. But why sideways?