Which of the Following Statements Describes the Result of Restricting

question 11

Multiple Choice

Which of the following statements describes the result of restricting the number of high-skilled workers that can be admitted to the United States from other countries?

• A) It has reduced the need for high-skilled workers.
• B) It has increased the profit of companies needing high-skilled workers.
• C) It has made it difficult to hire enough high-skilled workers.
• D) It has reduced the salaries of high-skilled workers.

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Definitions:

Monopolistically Competitive

Illustrates a market model in which numerous enterprises sell goods that are alike but not perfectly identical, enabling them to possess a certain amount of dominance in the market.

Industry Entry

The process or act of beginning to operate or participate in a specific sector or market.

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices over a specified period of time.

Profit-Maximizing Price

The price level at which a company can sell its product or service to maximize its profit.