Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market.
-Sellers are more willing to supply a good or service for which the profit is low than to supply a good or service for which the profit is high.

Question

​Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market. 
-Sellers are more willing to supply a good or service for which the profit is low than to supply a good or service for which the profit is high.

Quizplus · Accepted Answer

This statement is false. Sellers are more willing to supply a good or service for which the profit is high, as it provides a greater incentive for them to produce and sell the good or service.

​Figure 53

Figure 53