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    Exam 18: Markets for Factors of Production
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    The Lowest Wage for Which a Person Is Willing to Supply
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The Lowest Wage for Which a Person Is Willing to Supply

Question 89

Question 89

Multiple Choice

The lowest wage for which a person is willing to supply labor is known as the


A) substitution wage.
B) income effect.
C) derived wage.
D) reservation wage.

Correct Answer:

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