Question: An increase in the price of labor causes a decrease in the supply of the product because a. each fi rm is going out of

An increase in the price of labor causes a decrease in the supply of the product because

a. each fi rm is going out of business.

b. barriers to entry exist in the market.

c. each fi rm produces less at profi t maximization.

d. each fi rm produces more at profi t maximization.

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