Phil's Copy Studio pays its workers $60 per day and sells poster-size copies for $10 per print. Now suppose during the holiday season the price of poster-size copies increases to $12. What happens? The demand for labor decreases. The demand for labor increases. The quantity demanded of labor decreases, but the demand for labor curve does not shift. The quantity demanded of labor increases, but the demand for labor curve does not shift.

Phil's Copy Studio pays its workers $60 per day and sells poster-size copies for $10 per print. Now suppose during the holiday season the price of poster-size copies increases to $12. What happens? The demand for labor decreases. The demand for labor increases. The quantity demanded of labor decreases, but the demand for labor curve does not shift. The quantity demanded of labor increases, but the demand for labor curve does not shift.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter11: Labor Markets

Section: Chapter Questions

Problem 18SQ

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Phil's Copy Studio pays its workers $60 per day and sells poster-size copies for $10 per print. Now suppose during the holiday season the price of poster-size copies increases to $12. What happens? The demand for labor decreases The demand for labor increases The quantity demanded of labor decreases but the demand for labor curte does not shift The quantity demanded of labor increases, but the demand for labor curve does not shift
Benny employs people to sell candy bars at intersections. Assume that Benny can obtain candy bars to sell for no cost. The marginal product of the last worker Benny hired is 20 candy bars per hour. Benny pays $7 per worker per hour and sells the candy bars for $1 each. If the price of candy bars rises to $2. then the: demand for labor increases. demand for labor decreases. quantity demanded of labor increases, but the demand for labor curve does not shift. quantity demanded of labor decreases, but the demand for labor curve does not shift.
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