If Payroll Taxes Are Increased,there Will Be a

question 116

Multiple Choice

If payroll taxes are increased,there will be a

• A)Leftward shift of the labor supply curve.
• B)Rightward shift of the labor supply curve.
• C)Movement up the labor supply curve to the right.

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Definitions:

Competitive Industry

An industry characterized by many sellers, where no single company can control market prices.

Barriers To Entry

Factors that prevent or hinder companies from entering a particular market or industry.

Barriers To Exit

Factors that make it difficult or costly for a company to leave a market or industry.

Competitive Industry

An industry characterized by many firms competing with each other by offering similar products or services, typically resulting in benefits for consumers through lower prices and higher quality.