Floods have just ravaged the countryside and cities! You would expect this suppl

Question

Floods have just ravaged the countryside and cities! You would expect this supply shock to shift the marginal product of labour curve up and to the right, raising the quantity of labour demanded at any given real wage. marginal product of labour curve down and to the left, reducing the quantity of labour demanded at any given real wage real wage curve up, reducing the quantity of labour demanded at any given real wage. real wage curve down, raising the quantity of labour demanded at any given real wage.

Explanation / Answer

Ans) B is the correct option. Marginal product of labor curve down and to the left, reducing the quantity of labor demanded at any given real wage. The change in output from hiring one additional unit of labor declines due to the supply shocks because floods have ravaged the cities

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