The following figure shows wage versus labor supply.
-Refer to the figure above.Assume that the labor market initially clears at point C.Why might the quantity of labor supplied shift to Q₂?
A) Because of a shift of the demand for labor to D₁
B) Because of a shift in the supply of labor to S₂
C) Because of the implementation of a minimum wage at w₁
D) Because of a shift of the demand to D₁ and a shift of the supply to S₂
Correct Answer:
Verified
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