Let's say you stay in Blacksburg over the summer and work for S10/hr. Once classes start in the fall, you quit. Why? O you no longer need money. O the opportunity cost of leisure went up. O the opportunity cost of labor went up. O you moved down your labor supply curve.

Let's say you stay in Blacksburg over the summer and work for S10/hr. Once classes start in the fall, you quit. Why? O you no longer need money. O the opportunity cost of leisure went up. O the opportunity cost of labor went up. O you moved down your labor supply curve.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter30: The Labor Market

Section: Chapter Questions

Problem 14E

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Question

Let's say you stay in Blacksburg over the summer and work for $10/hr. Once classes start in the fall, you quit.
Why?
O you no longer need money.
O the opportunity cost of leisure went up.
O the opportunity cost of labor went up.
O you moved down your labor supply curve.

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