An increase in the supply of labor has the effect of decreasing the

Name: An increase in the supply of labor has the effect of decreasing the
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An increase in the supply of labor typically leads to a decrease in the wage due to higher competition among workers. It can also decrease the marginal product of labor as more workers may lead to diminishing returns. Consequently, the value of the marginal product of labor, which is the marginal product times the price of the output, also decreases.

An Increase in the Supply of Labor Has the Effect