As we work fewer hours and our leisure time increases,the opportunity cost of labor
A) Falls and the marginal utility of income falls.
B) Rises and the marginal utility of income falls.
C) Falls and the marginal utility of income rises.
Correct Answer:
Verified
Q15: Workers typically require higher wages in order
Q16: If we move to the right along
Q17: The willingness to work a certain amount
Q18: The labor supply curve will be negatively
Q19: The opportunity cost of working is the
A)Wage
Q21: If leisure activities become more attractive,there will
Q22: The demand for labor and other factors
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