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A Decrease in the Cost of Labor or Some Other

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Short Answer

A decrease in the cost of labor or some other input will make the production of a product less costly and more profitable at a given price,so producers will supply more of it.This is an example of ________.


Definitions:

Species Diversity

The variety of different species present in a particular ecological community or habitat.

Arctic Tundra

A biome characterized by a cold, desert-like climate located at high latitudes above the Arctic Circle, with permafrost and minimal vegetation.

Coniferous Forest

A biome characterized by evergreen trees with needles and cones, often found in cooler northern latitudes.

Natural Grassland

Ecosystems dominated by grasses and other non-woody plants, often subject to periodic fires and grazing.

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