The market supply curve for labor curve is upward-sloping because
A)As the wage rises,most workers want to work fewer hours.
B)As the wage falls,most workers want to work more hours.
C)As the wage rises,most workers are willing to work more hours.
D)For most workers,as the wage rises,the preference for leisure time increases.

Question

Quizplus · Accepted Answer

As the wage increases, more workers are willing to work more hours because the opportunity cost of not working (i.e. giving up income) is higher. This leads to an increase in the quantity of labor supplied, resulting in an upward-sloping supply curve.

The Market Supply Curve for Labor Curve Is Upward-Sloping Because