Asked by
Trang Tran-Collins
on Nov 16, 2024
Verified
Refer to Figure 18-5. Which of the following would shift the labor supply curve from S2 to S1?
A) Technological progress
B) An increase in the price of the firm's output
C) A change in workers' attitudes toward the work-leisure tradeoff in favor of leisure
D) A decrease in the wage rate
Labor Supply Curve
A graphical representation that shows the relationship between the quantity of labor supplied and the wage rate.
Technological Progress
The advancement in technology which increases production efficiency and productivity.
Wage Rate
The amount of compensation an individual receives per unit of time for their labor.
- Analyze the consequences of technological innovations on the workforce.
Verified Answer
JA
Learning Objectives
- Analyze the consequences of technological innovations on the workforce.