Which of the Following May Shift the Labor Supply Curve

question 233

Multiple Choice

Which of the following may shift the labor supply curve?

• A) an increase in worker productivity
• B) a decrease in the value people place on their time
• C) an increase in the price of the output of the firm
• D) an increase in the corporate tax rate

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Definitions:

Long Run

A period in economics where all factors of production and costs are variable, allowing complete industry adjustment.

Marginal Revenue

The extra revenue generated from the sale of an additional unit of a product or service.

Marginal Cost

Marginal cost is the cost of producing one additional unit of a good or service, crucial for decision-making processes in economics and business.

Average Total Cost

The total cost divided by the number of goods produced, representing the per-unit cost of production.