Suppose at the Going Wage Rate of $20 Per Hour

question 205

Multiple Choice

Suppose at the going wage rate of $20 per hour, firms can hire as many hours of janitorial services as it desires. If any firm tries to lower the wage rate to $19, it will not be able to hire any janitor. What does this indicate about the supply curve for janitorial services?

• A) Supply is unit-elastic.
• B) Supply is perfectly elastic.
• C) Supply is perfectly inelastic.
• D) Supply is relatively inelastic.

---

Definitions:

Memorized Sales Presentation

A pre-designed speech or pitch used by salespeople, learned by heart, to persuade potential buyers.

Formula Sales Presentation

A pre-structured presentation used by salespeople that follows a set format designed to generate a specific response from potential buyers.

Need-Satisfaction

A sales approach that focuses on identifying and meeting the needs or problems of the customer as a key to closing the sale.