Which One of the Following Labor Resources Will Likely Have

question 120

Multiple Choice

Which one of the following labor resources will likely have the most inelastic supply schedule in the short run?

• A) filling station attendants
• B) sales clerks
• C) construction laborers
• D) dentists

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Definitions:

Useful Life

The estimated duration a fixed asset is expected to be economically useful to an entity.

Operating Cost

Expenses associated with the day-to-day operations of a business, including rent, utilities, and payroll.

Injection Mold

A manufacturing process for creating parts by injecting material into a mold to form shapes and designs.

Competitor's Product

A product or service that is offered by one or more companies operating in the same market as another company, serving as alternatives or substitutes.