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Author Question: The supply of labor is the relationship between __________. A. the quantity of labor supplied and ... (Read 68 times)

nevelica

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on: Jun 29, 2018
The supply of labor is the relationship between __________.
 
  A. the quantity of labor supplied and leisure time forgone
  B. the real wage rate and the quantity of labor supplied
  C. firms' willingness to supply jobs and the real wage rate
  D. the labor force participation rate and the real wage rate

Question 2

Refer to Figure 4-2. What area represents producer surplus at a price of P1?
 
  A) A + C B) A + C + E C) C D) C + E


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Amiracle

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B Answer B defines the supply of labor.

Answer to Question 2

C


nevelica

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

mcabuhat

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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