Use the Information Below to Answer the Following Questions

question 98

Multiple Choice

Use the information below to answer the following questions.
Fact 18.2.1
Wanda's is a fish store that hires students to pack the fish. The fish market is competitive. Originally the price is 50¢ a kilogram. The market for packers is competitive and their market wage rate is $7.50 an hour. Then the market price of fish falls to 33.33¢ a kilogram but the wage rate of fish packers remains at $7.50 an hour.
-Refer to Fact 18.2.3. As a result,

• A)Wanda's demand for labour curve shifts rightward and the firm hires more students.
• B)the value of marginal product decreases, but Wanda's still continues to hire the same number of students.
• C)Wanda's demand for labour curve shifts leftward and the firm hires fewer students.
• D)marginal product increases so Wanda's hires more students.
• E)Wanda's demand for labour curve shifts leftward and the students' supply of labour curve shifts leftward, and the firm hires fewer students.

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Definitions:

Civil Litigation Process

A judicial process for resolving disputes between parties in civil cases, including steps like filing, discovery, trial, and potentially appeal.

Paralegals

Trained legal assistants who perform various tasks to support lawyers in delivering legal services, but are not licensed to practice law themselves.

Statute Of Limitations

A law prescribing the time limit within which legal action must be initiated for a particular kind of claim.

Civil Court

A court dealing with non-criminal cases, often involving disputes between individuals or organizations over rights, contracts, and liabilities.