Refer to Figure 31.3 for a competitive labor market. A shift in labor supply from S₁ to S₂ could be caused by:. A) An increase in the wage rate. B) The unionization of another labor market. C) An increase in the price of the product being produced. D) An increase in the price of machinery used in the production of the product.

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The Answer of Refer to Figure 31.3 for a competitive labor market. A shift in labor supply from S₁ to S₂ could be caused by:. A) An increase in the wage rate. B) The unionization of another labor market. C) An increase in the price of the product being produced. D) An increase in the price of machinery used in the production of the product.