An Increase in the Price of Labor Used to Produce

question 163

Multiple Choice

An increase in the price of labor used to produce good Y will lead to

• A)an increase in the market clearing price of good Y.
• B)an increase in the supply of good Y.
• C)a decrease in the demand for good Y.
• D)an increase in the demand for good Y.

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Definitions:

Material Benefits

Tangible resources or goods that an individual gains, which can enhance their reproductive success or survival.

Kin-selection Theory

A theory in evolutionary biology suggesting that individuals can pass on their genes by helping relatives to reproduce, not just through their own offspring.

Material Benefits

Tangible rewards or advantages, such as food or shelter, obtained through specific behaviors or interactions.

Good Genes Model

A hypothesis in sexual selection suggesting that individuals choose mates on the basis of traits that indicate genetic quality, leading to enhanced survival or reproductive success in offspring.