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All other things equal, when the wage increases: 1. the supply of labor decreases. 2. the quantity of labor supplied decreases. 3. the demand for labor decreases. 4. the quantity of labor demanded decreases. 5. the supply of labor increases.

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tutordamola

Answer:

The answer is 5.

Explanation:

All other things equal, when the wage increases, the supply of labor increases and vice-versa. This is the law of supply. The supply of labor and wages are directly proportional.

Increase in wages will act as an incentive for households or workers or labor to be willing to work. The labor market will witness a boom.

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