Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm. TABLE 13- 3 -If at a particular wage rate in a competitive labour market the quantity demanded of labour is less than quantity supplied of labour,then
A)the demand curve for labour will shift to the right.
B)some workers will begin to accept lower wages and induce employers to hire more workers.
C)a black market for labour will form,with firms offering workers very high wages.
D)the supply curve for labour will shift to the right.
E)there will be a shortage of labour,thereby increasing the equilibrium wage rate.
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