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
Economics Principles Problems And Policies
ISBN: 9780073511443
19th Edition
Authors: Campbell Mcconnell ,Stanley Brue ,Sean Flynn
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