a-city-experiences-a-boom-in-the-tech-industry-leading-to-higher-wages-for-tech-

Question

A city experiences a boom in the tech industry, leading to higher wages for tech workers. How might this affect the labor supply in the local retail industry?

Accepted Answer

The labor supply in the retail industry will decrease as workers shift to tech jobs.

Answer

The labor supply in the retail industry will remain unchanged.

Answer

The labor supply in the retail industry will become more elastic.

Answer

The labor supply in the retail industry will increase as tech workers spend more.