If Producers Who Hire Labor in a Competitive Labor Market

question 103

Multiple Choice

If producers who hire labor in a competitive labor market decide to purchase the new automated machine that completes the work of 30 employees,we would expect the labor-supply curve to shift:

• A)to the left and wages would rise.
• B)to the left and wages would decrease.
• C)to the right and wages would rise.
• D)None of these statements is true.

---

Definitions:

Fibula

A long, slender bone located on the lateral side of the tibia, in the lower leg.

Trabeculae

The network of irregularly shaped plates in spongy bone tissue, providing structural support and helping to reduce the weight of the bone.

Spongy Bone

A type of bone tissue that is characterized by a honeycomb structure, consisting of trabeculae filled with bone marrow; found at the ends of long bones and in the inner layer of other bones.

Osteon

The fundamental functional unit of compact bone, consisting of a central canal surrounded by concentric rings of bone matrix and cells.