if-a-new-industry-offering-higher-wages-emerges-in-a-region-what-is-the-likely-i

Question

If a new industry offering higher wages emerges in a region, what is the likely impact on the labor supply of existing industries in that region?

Accepted Answer

The labor supply in existing industries will decrease.

Answer

The labor supply in existing industries will become more elastic.

Answer

The labor supply in existing industries will remain unchanged.

Answer

The labor supply in existing industries will increase.