The opportunity cost of an extra hour of leisure is:
A) $1.
B) the hourly wage rate.
C) the same as the price of money.
D) always less than the value of the marginal product of labor.
Correct Answer:
Verified
Q172: Scott's wage is $25 per hour and
Q173: Lakisha's labor supply curve is downward sloping
Q174: Suppose that Professor Jones receives a promotion
Q175: Tim works 51 hours per week,and his
Q176: A higher wage _ the price of
Q178: Lisa works 46 hours a week at
Q179: The _ effect of a _ wage
Q180: The price of an extra hour of
Q181: The importance of human capital has been
Q182: A backward-bending supply curve of labor shows
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents