The wage of a unit of labor used in the production of a good

3/20 The wage of a unit of labor used in the production of a good or service is: O not related to the supply of the final good or service. O inversely related to the supply of the final good or service O inversely related to the demand for the final good or service. O not related to the demand for the final good or service. directly related to the demand for the final good or service. CONTINUE

Solution

the wage rate of unit of a labour used in the production of goods and services were inversely related to supply

labour is a factor of production of goods and services therefore a rise in the wage rate will rise in the cost of production of goods and services tat lead to decrease the profit of the producer and fall in the supply of a good and services

on the contrary a fall in the wage rate fall in the cost of production and rise in the profit of the producer therefore supply rises

point no 2 inversely related to the supply is correct one