Recently It Has Been Discovered That Lobsters Grown on Lobster

question 221

Multiple Choice

Recently it has been discovered that lobsters grown on lobster farms can feed on algae, which is a cheaper lobster food.As a result of this discovery,

• A)the supply curve for lobster will shift to the left
• B)the supply curve for lobster will shift to the right
• C)there will be an increase in the quantity of lobsters supplied
• D)there will be a decrease in the quantity of lobsters supplied
• E)both supply and demand curves will shift to the right

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Definitions:

Estimating Labor Surplus

The process of determining when there are more workers available than there are positions for them, often leading to unemployment or underemployment.

Forecasting Labor Supply

Predicting the future availability of workers in the market based on factors such as demographics, education, and employment trends.

Evaluating Outcomes

The process of measuring, assessing, and analyzing the results of a program, policy, or intervention to determine its effectiveness or impact.

Employee Selection

The process of interviewing and evaluating candidates for a specific job and deciding whom to hire.