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Refer to Figure 31

Question 103

Multiple Choice

Refer to Figure 31.3 for a competitive labor market.
Refer to Figure 31.3 for a competitive labor market. A shift in labor supply from S<sub>1</sub> to S<sub>2</sub> 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. 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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