Figure 18-3 -Refer to Figure 18-3.When the Relevant Labor Supply Curve Is

question 105

Multiple Choice

Figure 18-3

-Refer to Figure 18-3.When the relevant labor supply curve is S₁ and the labor market is in equilibrium,

• A)the wage is W₁.
• B)the opportunity cost of leisure to workers is W₁.
• C)the value of the marginal product of labor to firms is W₁.
• D)All of the above are correct.

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