Solved

At Low Wages, the Labour Supply Curve for Most People

Question 39

Multiple Choice

At low wages, the labour supply curve for most people slopes upward because


A) the supply of labour is perfectly inelastic at low wages.
B) as wages increase, the opportunity cost of leisure increases.
C) as wages increase, income also increases unless hours worked decrease.
D) the demand for labour is perfectly elastic at low wages.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions