In general, the labor supply curve?
A. is vertical at the equilibrium wage rate.
B. slopes upward because as the wage rises, the opportunity cost of leisure increases.
C. is perfectly elastic at the equilibrium wage rate.
D. slopes downward because firms will hire fewer workers at higher wages.
A. is vertical at the equilibrium wage rate.
B. slopes upward because as the wage rises, the opportunity cost of leisure increases.
C. is perfectly elastic at the equilibrium wage rate.
D. slopes downward because firms will hire fewer workers at higher wages.