Workers Typically Require Higher Wages in Order to Work Additional

question 114

Multiple Choice

Workers typically require higher wages in order to work additional hours because of the

• A)Increasing opportunity cost of labor.
• B)Increasing marginal utility of income.
• C)Decreasing value of leisure time forgone.
• D)Constant marginal utility of income.

---

Definitions:

People Versus Space

A concept comparing the cost, efficiency, and effectiveness of human labor versus physical space in operations and business strategies.

Private

Pertaining to or concerning individuals or organizations not affiliated with or controlled by the government or public sectors.

3PL Distribution

The use of third-party logistics providers to outsource elements of a company's distribution, warehousing, and fulfillment services.