If, at a Particular Wage Rate in a Competitive Market

Multiple Choice

If, at a particular wage rate in a competitive market, the quantity supplied of labor exceeds the quantity demanded of labor, then

A) the supply curve will shift to the left, the demand curve will shift to the right, and the surplus of labor will be eliminated.
B) since wages are so high, the quantity supplied of workers will increase further, and the quantity demanded will decrease further.
C) some workers will begin to accept lower wages and, as a result, employers will begin to hire more workers.
D) the supply curve will shift to the right, the demand curve will shift to the left, and the shortage of labor will be eliminated.