Examlex
List four reasons why the supply of labor in a particular occupation may be small.
Marginal Cost
The additional cost of producing one more unit of a good or service.
Competitive Labor Market
A market where numerous employers are actively seeking to hire and numerous individuals are seeking employment, with wages determined by the supply and demand for labor.
Wage Rate
The amount of compensation paid to an employee per unit of time worked, often expressed per hour or year.
MV
MV, short for "Mean Value," is a measure used in statistics and mathematics to denote the average or central value of a set of numbers.
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