Suppose there is an increase in the supply of labor.This will cause the equilibrium wage to ,hours worked to ,and quantity of labor demanded to .
A) decrease,decrease,increase
B) decrease,increase,increase
C) decrease,increase,decrease
D) increase,decrease,increase
E) increase,increase,decrease

Question

Quizplus · Accepted Answer

An increase in the supply of labor will cause the equilibrium wage to decrease, hours worked to increase, and quantity of labor demanded to increase.

Suppose There Is an Increase in the Supply of Labor