Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D2 and S1 (point C). If the price of oranges, a substitute for apples, increases and the wages of apple workers increase, how will the equilibrium point change?

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A: The labour force participation rate is the measure to evaluate working-age population in an economy.

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A: 1. The answer is - d. Enhanced flow of ideas  

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A:

Q: A firm uses financial leverage when it: O A) replaces labor with capital. B) borrows money from a ba...

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Q: 2. What is rent seeking? 3. What is market failure?

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Labor Force Participation Rate analysis

The labor force participation rate analysis calculates the percentage of the working-age population either employed or actively seeking work. It can be anyone in the age category of 16 to 64, on the condition that they are not institutionalized. A high labor force participation rate shows that more people are employed and contributing their wages to the economy, making it a healthy economy. It also shows that there are more people actively looking for employment leading to more hiring options for employers. On the other hand, a low labor force participation rate shows a low number of people employed or looking for work. This leads to an economic setback with fewer wages going into the economy. In such a scenario, employers might have to cut back on profits, lay off employees, or stop the process of hiring.