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How is opportunity cost related to the supply of labor? Group of answer choices The opportunity cost of working one more hour is the loss
How is opportunity cost related to the supply of labor? Group of answer choices The opportunity cost of working one more hour is the loss of one hour spent on nonmarket activities. This means that the quantity of labor supplied would decrease if the value of nonmarket activities increased. The opportunity cost of working one more hour is the rise in wages. This means that the quantity of labor supplied would decrease if the wage rate rose. There is no opportunity cost of working because almos
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