Determine whether each of the following events will result in a movement along the market supply curve

Question:

Determine whether each of the following events will result in a movement along the market supply curve for labor in the fast-food industry or whether it will cause the market supply curve for labor to shift. If the supply curve shifts, indicate whether it will shift to the left or to the right.

a. Wages in the retail industry increase (assume that the fast food industry requires similar skills as the retail industry).

b. New legislation reduces the number of hours that workers under the age of 18 are able to work each week.

c. In order to increase opportunities for lower income families, the government increases the subsidies available for individuals to pursue a college education.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Principles Of Economics

ISBN: 9781429237864

1st Edition

Authors: Betsey Stevenson, Justin Wolfers

Question Posted: