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Suppose a bakery purchases a machine that automatically frosts a cake in half the time of a typical worker. As a result, we would expect the bakery's labor _______ curve to shift to the _______ and wages to _______.
American Revolution
The conflict between the thirteen American colonies and British rule that led to the colonies declaring independence and forming the United States of America (1775-1783).
Regulators
Individuals or groups that control, monitor, or maintain the norms in various systems, including financial, environmental, and social domains.
Secure Possession
The legal state or condition of having a firm ownership or control over property or goods, safeguarded against loss, damage, or theft.
Land
The surface of the earth not covered by water, considered as property and factor of production, it also includes natural resources like minerals, forests, and crops.
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