In the Following Graph, Q_S1 and Q_S2 Are the Supply

question 34

Multiple Choice

In the following graph, Q_S1 and Q_S2 are the supply curves for labour and Q_D1 is the demand curve for labour. Refer to the graph to answer the question.
When Q_S1 shifts to Q_S2, _____.

• A) the equilibrium quantity and wage level remain unchanged
• B) the equilibrium quantity of labour increases
• C) the wage level rises to W₃
• D) the demand for labour exceeds the supply of labour

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Prospective Franchisees

Individuals or entities considering the acquisition of franchise rights to operate a business under the franchisor's brand and system.

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A type of business structure where a single individual owns, manages, and is responsible for all aspects of the business, including debts.

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