A Change in the Relative Price of One Good Versus

question 81

Multiple Choice

A change in the relative price of one good versus another will cause a change in marginal product and the allocation of labor resources. When the price of good A increases relative to the price of good B and labor is mobile, the equilibrium real wage in industry A will:

• A) rise in terms of good B.
• B) fall in terms of good B.
• C) remain the same.
• D) rise in terms of good A.

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Definitions:

Dissolved Oxygen

The amount of oxygen that is present in water, important for the survival of aquatic life and the health of water ecosystems.

Coastal Wetlands

Ecologically rich areas located at the interface between land and sea, known for buffering coastal storms and providing habitat for numerous species.

Waterborne Pollutants

Contaminants that are carried into streams, rivers, lakes, and oceans, typically from runoff, affecting water quality and ecosystem health.

Limestone Production

The process of extracting and processing limestone to use in building materials, agriculture, and industry.