An Industry Would Be Likely to Lay Off Workers Following

question 286

Multiple Choice

An industry would be likely to lay off workers following

• A) an increase in the price of the firm's product.
• B) an increase in the marginal revenue product of labor.
• C) the imposition of a new minimum wage below the current equilibrium wage.
• D) an industrial union's push of wages above the MRP of labor.

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Definitions:

Herbicide Resistance

The innate or evolved ability of a plant species to survive and reproduce despite the application of herbicides designed to kill them.

Monsanto

A large agrochemical and agricultural biotechnology corporation known for its development of genetically modified crops and agricultural products.

Trademark

Any terms, letters, numbers, symbols, designs, colours, sounds, or combination of these, that identifies business services or products and distinguishes them from those of a competitor.

Registration

The act of officially recording details about something or someone in an official list or register.