Which of the Following Could Explain a Decrease in Labor

question 16

Multiple Choice

Which of the following could explain a decrease in labor supply to a particular labor market?

• A)an increased preference for this type of work
• B)a decrease in the size of the population
• C)an increase in the number of firms in the market
• D)a leftward shift of the marginal revenue product curve of labor at a typical firm
• E)a reduction in wages rates for similar types of work

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Definitions:

Mechanized Process

An automated procedure or method involving machinery or technology to enhance efficiency and reduce human labor.

Operational Flexibility

The ability of a business or organization to adapt to changes in conditions, demand, or environment while maintaining efficiency and effectiveness.

Production Batches

Groups or lots of goods produced together during a manufacturing process, often under the same conditions over a specific time period.

Economic Force

Factors or agents that cause significant changes or impacts on the economy, influencing markets, employment, and production.