The figure below shows the supply curve for labor.Figure 16.1

-Why does the labor market have more than one equilibrium wage rate?
A) Workers differ in their productivities.
B) Productivity of workers increases initially but later declines.
C) The labor demand curve is backward bending.
D) Marginal revenue product of different inputs used by firms vary.
E) Employers compete among themselves to hire the best workers.
Correct Answer:
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Q12: The figure below shows the supply curve
Q13: The figure below shows the supply curve
Q14: The figure given below shows the demand
Q15: Scenario 14.1
A worker in Firm A earns
Q16: The figure below shows the supply curve
Q18: The figure given below shows the demand
Q19: The figure given below shows the demand
Q20: The figure below shows the supply curve
Q21: The figures given below show the demand
Q22: The figures given below show the demand
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