Asked by
Derron Brown
on Dec 08, 2024Verified
If the elasticity of labor supply is positive, the labor-supply curve would be
A) horizontal.
B) vertical.
C) downward sloping.
D) upward sloping.
Labor-supply Curve
A graphical representation showing the relationship between the wage rate and the quantity of labor workers are willing to supply.
Elasticity Positive
Positive elasticity indicates that when the price of a good or service increases, the quantity demanded increases, or vice versa, showing a direct relationship between price and demand.
- Learn about the elasticity of supply and its role in influencing market mechanisms.
Verified Answer
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Learning Objectives
- Learn about the elasticity of supply and its role in influencing market mechanisms.