In Figure 30

question 144

Multiple Choice

In Figure 30.1, the shift in the labor supply curve from S₁ to S₂ means that

• A) The marginal utility of labor has decreased.
• B) Workers are being paid higher wage rates, given their taste for work.
• C) The marginal utility of labor relative to leisure has increased.
• D) The demand for labor has increased, and this encourages more labor force participation.

---

Definitions:

Immature

Lacking in development, either physically, emotionally, or intellectually; not fully grown or developed.

Over-Confident

Describes a state of being excessively confident without sufficient reason or evidence, often leading to miscalculations or errors in judgment.

Low Self-Esteem

A condition where an individual holds a low or negative perception of their own worth or value.

Vulnerable to Manipulation

The state of being easily influenced or controlled by others, often in a deceptive or unfair manner.