Due to the increase in wage rate, the opportunity cost of leisure increases, which makes leisure costlier.

True

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

False

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A
True

True. Due to the increase in wage rate, the opportunity cost of leisure increases, which makes leisure costlier. Therefore, the individual will want to enjoy less leisure. As a result, they will work for longer hours.

Suggest Corrections

Similar questions

One should consume leisure up to the point where the marginal benefit equals the marginal cost, where the marginal cost is the wage rate of labour.

The pie chart shows the favourite leisure time activities of 200 people living in India.

How many people prefer to watch TV as their favourite leisure time activity?

The pie chart shows the favourite leisure time activities of 200 people living in India.

What percentage of people prefer listening to music as their favourite leisure-time activity?

Join BYJU'S Learning Program