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

question 150

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, the

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

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