We would expect that a fall in labor supply will have a proportionately larger effect on the market wage rate when
A) capital goods exist that can replace many of the workers.
B) the product produced in the industry has several close substitutes.
C) the product produced in the industry makes up a large portion of most families' budgets.
D) labor represents a relatively small portion of total costs.
D
Economics
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If income increases we know for sure that the:
a. demand curve will shift to the right b. demand curve will shift to the left c. demand curve will stay the same since only price affects it d. supply curve will shift to the right e. none of the above
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Relative to a fixed franchise fee, sharing contacts in franchising
a. Can decrease shirking b. Can increase shirking c. Always decreases shirking d. None of the above
Economics