Which of the Following Would Cause the Equilibrium Price of Labor

question 27

Multiple Choice

Which of the following would cause the equilibrium price of labor to increase?

• A) A decrease in the price of the product that labor is helping to produce.
• B) The use of a larger stock of capital with the labor force.
• C) An increase in the desire for leisure.
• D) A more efficient method of combining labor and capital in the production process.

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Definitions:

Freud's

Pertaining to Sigmund Freud, the Austrian neurologist who founded psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Social Interest

The concept of an individual's attitude towards and awareness of being part of a community and the inherent desire to contribute positively to it.

Coping Behavior

Consciously planned behavior determined by the needs of a given situation and designed for a specific purpose, usually to bring about a change in one’s environment.

Community Feeling

A sense of belonging and connection individuals experience within a group or society, often associated with mutual support and shared values.