Assume That This Graph Illustrates a Perfectly Competitive Labor Market

question 14

Multiple Choice

Assume that this graph illustrates a perfectly competitive labor market.
If the supply of worker hours in this market shifted to the right

• A)the equilibrium wage would fall and the number of worker hours would increase.
• B)the equilibrium wage and the number of worker hours would increase.
• C)the equilibrium wage would stay the same,but the number of worker hours would increase.
• D)the equilibrium wage would fall and the number of worker hours would decrease.

---

Definitions:

Excise Tax

A duty imposed on specific products or activities by the government, typically with the aim of discouraging their use or raising revenue.

Shrimp Market

A sector of the economy related to the buying, selling, and distribution of shrimp, both wild-caught and farmed.

Total Tax Revenue

The total amount of money collected by a government from taxes.

Glass Ceiling

An invisible barrier that prevents women and minorities from advancing to the highest levels of the corporate ladder, regardless of qualifications or achievements.