Multiple Choice
John's reservation wage is $16 per hour. This means that
A) John will not supply labor in the market until he receives a wage of at least $16 per hour.
B) John will supply labor in the market at a wage of $16 and lower.
C) John will work 16 hours per week.
D) John will decrease the hours he works when his wage rate exceeds $16 per hour.
Correct Answer:
Verified
Correct Answer:
Verified
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