The diagram represents the market for labour. What would be the effect on transfer earnings and economic rent of a change in the supply curve from $$\(\mathrm{S}_{1}\)$$ to $$\(\mathrm{S}_{2}\)$$ ?

A.
B.
C.
D.
Economics
IGCSE&ALevel
CAIE
Exam No:9708_w24_qp_33 Year:2024 Question No:14

Answer:

D

Knowledge points:

8.3.1 demand for labour as a derived demand
8.3.2 factors affecting demand for labour in a firm or an occupation

Solution:

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