The labor supply curve for a particular occupation is

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19. The labor supply curve for a particular occupation is upsloping because: A. higher wages will be needed to attract workers from other occupations. B. lower wages will be needed to increase employment. C. higher wages will enable some workers to afford more leisure. D. the labor demand curve is downsloping. 20. The market supply curve for labor is upsloping because: 21. A firm operating in a purely competitive resource market faces a resource supply curve that is: 22. A firm that is hiring labor in a purely competitive labor market and selling its product in a purely competitive product market will maximize its profit by hiring labor until: 23. A profit-maximizing firm will: A. expand employment if marginal revenue product exceeds marginal resource cost. B. reduce employment if marginal revenue product exceeds marginal resource cost. C. expand employment if marginal revenue product equals marginal resource cost. D. reduce employment if marginal revenue product equals marginal resource cost. 24. A profit-maximizing firm will: 25. A firm hiring labor in a perfectly competitive labor market faces a: 26. Which of the following describes the equilibrium condition in a purely competitive labor market?
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