Question

The market supply of labor curve:

A. slopes upward because greater leisure activity requires a higher wage rate

B. slopes upward because greater and greater wage rates must be paid to induce workers to give up increasingly more valuable leisure time

C. slopes upward because greater and greater wage rates must be paid to attract lazy workers away from their increasingly less valuable leisure time

D. slopes upward because a greater wage rate must be paid the less attractive workers to compensate them for their higher employment agency fees

E. does all of the above

Answer 1

slopes upward because greater and greater wage rates must be paid to induce workers to give up increasingly more valuable leisure time.

option(B)