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Shifts in Labor Supply
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Shifts in Labor Supply
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15. Markets for the Factors of Production / Shifts in Labor Supply / Problem 1
Problem 1
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?
A
The labor supply in the retail industry will decrease as workers shift to tech jobs.
B
The labor supply in the retail industry will remain unchanged.
C
The labor supply in the retail industry will become more elastic.
D
The labor supply in the retail industry will increase as tech workers spend more.
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