For Any Competitive Labor Market,what Change Would Have to Occur

question 146

Multiple Choice

For any competitive labor market,what change would have to occur to cause the labor supply to increase and shift the supply curve right?

• A) Number of firms increases
• B) Opportunity cost of work decreases
• C) Number of workers decreases
• D) Opportunity cost of work increases

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Definitions:

Experience

Refers to the knowledge or skill that one gains over time through involvement in or exposure to activities.

Frontal Lobes

This region of the brain, situated at the forefront of each cerebral hemisphere, is accountable for voluntary movements, the production of speech, and the oversight of advanced executive tasks.

Temporal Lobes

Regions of the brain located on either side of the head above the ears, involved in processing auditory information and encoding memory.

Occipital Lobes

The portion of the cerebral cortex lying at the back of the head; includes areas that receive information from the visual fields.