Figure 18-7 -Refer to Figure 18-7.When the Relevant Labor Supply Curve Is

question 237

Multiple Choice

Figure 18-7
-Refer to Figure 18-7.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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