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3 June, 15:54

The supply of labor to an industry will decrease when Question 7 options: the demand for labor falls in the industry. the income effect dominates the substitution effect. workers receive better employment opportunities in other industries. the price of leisure falls.

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  1. 3 June, 16:20
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    Answer: Answer: "The supply of labor to an industry will decrease when workers receive better employment opportunities in other industries."

    Explanation: The determinants of the supply of labor are:

    Other wages: If the salary of other occupations increases, the offer of this type of work comes down.

    Non-salary income: If these incomes increase, the supply of labor goes down.

    Preferences for work versus leisure: If preferences increase, the

    supply of labor increases.

    Non-wage aspects of employment: If these aspects improve, the

    supply of labor increases.

    Number of bidders : If there is an increase in number of workers, the supply of labor increases.
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