The demand curve for high-skilled workers lies to the right of the demand curve for low-skilled workers because of the costs associated with obtaining skills
Indicate whether the statement is true or false
FALSE
Economics
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Comment on the following statement: "A decrease in supply will lead to an increase in the price which decreases demand, thus lowering price. Therefore, a decrease in supply has no effect on the price of a good."
What will be an ideal response?
Economics
In the long run, input demand becomes more
A) elastic. B) inelastic. C) unit-elastic. D) cost efficient.
Economics