Attempts Average / 2 5. Labor market definitions Complete the following table by selecting the term that matches each definition on the left. Marginal Value of the Market Labor Market Labor Product of Marginal Product of Definition Supply Curve Demand Curve Labor Labor The graphical representation of the relationship between the wage rate and the quantity of labor workers are willing to O O O O provide in a market The graphical representation of the relationship between the wage rate and the quantity of labor firms are willing to hire O O O O in a market The additional revenue the firm receives from selling the O O O O output produced from an additional unit of labor The increase in the amount of output from an additional unit O O O O of labor Which of the following events may increase labor supply? Check all that apply. A decrease in the wage rate An increase in the working population An increase in women's desire to work rather than stay at home with their kids (in other words, a change in tastes) A decrease in the working population Grade It Now Save & Continue Continue without saving