As a person works more hours and leisure time declines,the opportunity cost of labor _____ and the marginal utility of income _____.
A) Falls;falls
B) Falls;rises
C) Rises;falls
D) Rises;rises
Correct Answer:
Verified
Q9: An individual's labor-supply curve reveals how he
Q10: Ceteris paribus,for an upward-sloping labor supply curve,there
Q11: Generally,as the number of hours worked increases,the
Q12: An upward-sloping supply curve of labor illustrates
Q13: According to the upward-sloping labor supply curve,at
Q15: As a person works more,the number of
Q16: The labor-supply curve depicts the quantity of
Q17: All else remaining constant,or "ceteris paribus," for
Q18: The supply curve for labor is upward
Q19: A higher wage rate causes:
A) A shift
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