What Would an Employer in a Competitive Market Do When

question 54

Multiple Choice

What would an employer in a competitive market do when the cost of labor increases?

• A) Reduce cost on capital
• B) Change capital-labor mix
• C) Hire only unskilled workers
• D) Decrease its dependence on technology

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Definitions:

Intentional Torts

Deliberate acts committed by an individual that cause harm or injury to another person, leading to civil liability.

Tort Law

The area of law that deals with civil wrongs causing harm or injury to individuals or their property, where the injured party can seek compensation.

Federal Law

Legislation that is enacted by the national government and applies throughout the country, overriding state and local laws where there is conflict.

Public Nuisance

An act or omission that obstructs, damages, or inconveniences the rights of the community or public.