The supply-of-labor curve S slopes upward in graph (a) because: a. the law of diminishing marginal utility

Question:

The supply-of-labor curve S slopes upward in graph

(a) because:

a. the law of diminishing marginal utility applies.

b. the law of diminishing returns applies.

c. workers can afford to “buy” more leisure when their wage rates rise.

d. higher wages are needed to attract workers away from other labor markets, household activities, and leisure.

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Related Book For  book-img-for-question

Economics Principles Problems And Policies

ISBN: 9780073511443

19th Edition

Authors: Campbell Mcconnell ,Stanley Brue ,Sean Flynn

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