Because workers have varying preferences about the type of work they like to do,
A) the market demand curve for chefs is downward sloping.
B) the market supply curve for chefs is upward sloping.
C) the firm supply curve for chefs is vertical.
D) the firm supply curve for chefs is horizontal.

Question

Quizplus · Accepted Answer

The market supply curve for chefs is upward sloping because as the wage rate for chefs increases, more workers are willing to enter the industry and supply their labor. However, the firm supply curve for chefs may not be perfectly elastic, as some workers may have specific skills or preferences that limit their willingness to work for certain firms.

Because Workers Have Varying Preferences About the Type of Work