Kindly answer the following question The following factors could shift up the total Supply Curve of...
Kindly answer the following question
The following factors could shift up the total Supply Curve of Labor, leading to a higher wage in equilibrium, EXCEPT:
Question options: (Answer is NOT A)
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A) An increase in the value of leisure. |
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B) An increase in Unemployment benefits. |
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C) An increase in the number of people going into retirement. |
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D) An increase in the Cost of college education. |
Homework Answers
A higher wage will occur when the supply curve shifts to the left i.e. the supply of labor decrease in the market. the new equilibrium will be at a higher wage and lower quantity. B and C and A will shift the curve to the left.
The answer is "D", it will increase the labor supply as less people will be out of labor force,
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