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A manager wants to implement some changes in the working hours of employees. Two groups of workers oppose this decision and have contrasting opinions. The manager feels arriving at a solution that will be acceptable to both parties is impossible. Which of the following strategies is best suited to handle this conflict?
Decreasing-cost Industry
An industry in which the costs of production decrease as the industry grows and output increases.
Decreasing-cost Industry
An industry in which the costs of production per unit decrease as the industry grows and output increases.
Long-run Equilibrium
A state in which all factors of production and outputs are adjusted so that prices, supply, and demand are stable over time.
Law of Demand
The principle that, all else being equal, as the price of a good or service decreases, the quantity demanded increases, and vice versa.
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