The Supply Curve of Labor to a Competitive Firm Is

question 3

Multiple Choice

The supply curve of labor to a competitive firm is:

• A)upward-sloping because of the law of diminishing marginal returns.
• B)downward-sloping because the supply of labor increases as wages increase.
• C)perfectly inelastic because the stock of labor is fixed in the long run.
• D)horizontal because the firm can hire as many workers as it wants at the market wage.

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