-The figure above shows the market for high- and low-skilled labour. Supply curve SB represents the supply of ________ labour because ________.

Question

Quizplus · Accepted Answer

D is correct because the supply curve for high-skilled labor typically slopes upwards, reflecting that as wages increase, more individuals are willing to invest in the education or training necessary to become high-skilled workers, thus increasing the supply of high-skilled labor. This is because high-skilled workers must receive higher pay to compensate for the time, effort, and resources expended in acquiring their skills.

-The Figure Above Shows the Market for High- and Low-Skilled