For Any Competitive Labor Market,changes That Increase the Opportunity Cost

question 8

Multiple Choice

For any competitive labor market,changes that increase the opportunity cost of work will:

• A)decrease the labor supply and shift the supply curve left.
• B)increase the labor supply and shift the supply curve right.
• C)decrease the labor supply and shift the supply curve right.
• D)increase the labor supply and shift the supply curve left.

---

Definitions:

Curfew

A regulation requiring people to remain indoors during designated hours, typically imposed by a government or authoritative body.

Procedural Justice

The fairness and transparency of the processes that lead to outcomes or decisions.

Status Construction

The process by which social statuses are created, maintained, and transformed through social interactions and structures.

Distributive Justice

The perceived fairness of how resources and rewards are distributed within a society or group.