Suppose That Workers Immigrate to Minnesota from Canada

question 174

Multiple Choice

Suppose that workers immigrate to Minnesota from Canada. Which of the following correctly describes what would happen in the market for labor in Minnesota?

• A)The equilibrium wage would increase, and the quantity of labor would increase.With more workers, the added output from an extra worker is larger.
• B)The equilibrium wage would decrease, and the quantity of labor would decrease.With fewer workers, the added output from an extra worker is smaller.
• C)The equilibrium wage would decrease, and the quantity of labor would increase.With more workers, the added output from an extra worker is smaller.
• D)The equilibrium wage would decrease, and the quantity of labor would increase.With more workers, the added output from an extra worker is larger.

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Definitions:

Optimal Order Quantity

Refers to the quantity of inventory that minimizes the total costs of inventory management, including ordering and holding costs.

Holding Costs

The expenses associated with storing inventory before it is sold, including warehousing, insurance, depreciation, and opportunity costs.

Ordering Cost

The expenses borne by a company when ordering goods from suppliers, which may include costs associated with processing and receiving the order.

Service Level Policy

A set of guidelines or standards that determine the quality and performance level of customer service operations.