If Muffins and Bagels Are Substitutes,a Higher Price for Bagels

question 69

Multiple Choice

If muffins and bagels are substitutes,a higher price for bagels would result in a(n)

• A)increase in the demand for bagels.
• B)decrease in the demand for bagels.
• C)increase in the demand for muffins.
• D)decrease in the demand for muffins.

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Definitions:

Secondary Labour Market

Part of the labor market characterized by low pay, job insecurity, and limited career opportunities, often contrasting with primary labor markets that offer better employment conditions.

Primary Labour Market

The part of the labor market that offers high-paying jobs, good working conditions, and security to its workers, often requiring higher education and specific skills.

Professional Association

An organization seeking to further a particular profession, protect the interests of its members, and maintain standards of practice.

Trade Union

An organization of workers formed to protect and advance their rights and interests through collective bargaining and other means.