The labor supply price effect describes the _______ in the quantity of labor supplied in response to a _______ wage.
A) decrease; higher
B) increase; lower
C) increase; higher
D) None of these are correct.
Correct Answer:
Verified
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Q62: The market labor supply curve is typically:
A)upward
Q63: A decrease in the quantity of labor
Q64: If the income effect outweighs the price
Q65: Labor supply will decrease when wages increase
Q66: Which of the following is not a
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