answer each of the following questions regarding the market for labor in the fast-food industry. a. if wages in the retail industry increase (assume that the retail industry requires similar skills as the fast-food industry), the market supply curve for labor will shift to the left. the point representing the equilibrium wage and quantity of workers will move down and to the left along the market supply curve for labor. the market supply curve for labor will shift to the right. the point representing the equilibrium wage and quantity of workers will move up and to the right along the market supply curve for labor. b. if new legislation limits the number of hours that workers under the age of 18 can work each week, the market supply curve for labor will shift to the left. the point representing the equilibrium wage and quantity of workers will move up and to the right along the market supply curve for labor. the market supply curve for labor will shift to the right. the point representing the equilibrium wage and quantity of workers will move down and to the left along the market supply curve for labor. c. if, in seeking to increase opportunities for lower income families, the government significantly increases subsidies available for individuals to pursue a college education, the point representing the equilibrium wage and quantity of workers will move up and to the right along the market supply curve for labor. the market supply curve for labor will shift to the left. the market supply curve for labor will shift to the right. the point representing the equilibrium wage and quantity of workers will move down and to the left along the market supply curve for labor.

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06-12-2022
Business

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answer each of the following questions regarding the market for labor in the fast-food industry. a. if wages in the retail industry increase (assume that the retail industry requires similar skills as the fast-food industry), the market supply curve for labor will shift to the left. the point representing the equilibrium wage and quantity of workers will move down and to the left along the market supply curve for labor. the market supply curve for labor will shift to the right. the point representing the equilibrium wage and quantity of workers will move up and to the right along the market supply curve for labor. b. if new legislation limits the number of hours that workers under the age of 18 can work each week, the market supply curve for labor will shift to the left. the point representing the equilibrium wage and quantity of workers will move up and to the right along the market supply curve for labor. the market supply curve for labor will shift to the right. the point representing the equilibrium wage and quantity of workers will move down and to the left along the market supply curve for labor. c. if, in seeking to increase opportunities for lower income families, the government significantly increases subsidies available for individuals to pursue a college education, the point representing the equilibrium wage and quantity of workers will move up and to the right along the market supply curve for labor. the market supply curve for labor will shift to the left. the market supply curve for labor will shift to the right. the point representing the equilibrium wage and quantity of workers will move down and to the left along the market supply curve for labor.

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bhawsarsakshi4 bhawsarsakshi4 · Answer 1 · 2022-12-09T02:24:41-05:00

if wages in the retail industry increase, the market supply curve for labor will shift to the left. Thus, option A is correct.

What is the market?

A market is a gathering place for consumers and merchants where they may exchange items/solutions. Markets could be real-world, like a physical store, or digital, like an online retailer. In addition, there are financial markets, bid industries, and illicit markets.

The market aggregate supply for laborers will shift to this same left if retailer wages rise. Along with labor-market aggregate supply, the point corresponding to the balance pay and workforce size will go down and to the left. This will be the one that will determine the shift in the values.

The job market aggregate supply will veer to the privilege. Along the job market aggregate supply, the point corresponding to the equilibrium pay and workforce size will shift upward. Therefore, option A is the correct option.

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What is the market?

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