If a Worker Respond to an Increase in the Opportunity

question 168

Multiple Choice

If a worker respond to an increase in the opportunity cost of leisure by taking less leisure, then his labor supply curve is

• A) horizontal.
• B) vertical.
• C) backward sloping.
• D) upward sloping.

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Definitions:

Total Quality Management

An organizational management philosophy aimed at embedding awareness of quality in all organizational processes.

Organisation-Wide Commitment

A collective dedication across all levels of an organization to achieve shared goals or missions, often requiring unified effort and collaboration.

Continuous Improvement

Involves always searching for new ways to improve operations quality and performance.

Quality Control

Checks processes, materials, products and services to ensure that they meet high standards.