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The Reason That the Supply Curve for Labor in a Purely

Question 171

Multiple Choice

The reason that the supply curve for labor in a purely competitive market slopes upward is because


A) the wage rate paid to workers falls as more are hired.
B) the marginal product of labor falls as output increases.
C) marginal resource cost rises as productivity increases.
D) higher wages must be paid to bid workers away from other opportunities.

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