Question

which of the following statements is true? a. the market supply of labor is always upward sloping, but an individual's labor supply may not be upward sloping throughout its entire range. b. an individual's supply of labor is always upward sloping, but the market supply of labor may not be upward sloping throughout its entire range. c. both the market supply of labor and the individual's labor supply will be upward sloping. d. both the market supply of labor and the individual's labor supply may not be upward sloping across their entire range.

Answer 1

The concept mentioned is the Market Labor Supply. The answer is option A, the market supply of labor is always upward sloping, but an individual's labor supply may not be upward-sloping throughout its entire range

The market forces of labor are the number of workers of a particular type and skill position who are willing to supply their labor to enterprises at different pay envelope situations. The market force wind for a particular type of labor is the vertical totality of the existent's labor force angles.

The labor force wind pitches overhead and to the right because of the assumed dominating effect of the negotiation effect over the income effect of a rise in the real pay envelope.  The labor demand wind pitches over due to the dwindling borderline returns to labor given a fixed capital stock.

An existent's labor force wind marks out the number of hours they're willing to work at different wages, the same way that a dealer's force wind marks out how much they're willing to vend at different prices.

We could say that by default, the labor force wind is overhead-leaning. This is because people are willing to supply further labor if the pay envelope rate is advanced. The wage rate has a positive relationship with the volume of labor supplied.

To know more about the Market Labor supply,

brainly.com/question/29803609

brainly.com/question/25715806

#SPJ4