Multiple Choice
Phil's Copy Studio pays its workers $60 per day and sells poster-size copies for $10 per print.If the market wage rises to $70, what happens to Phil's labor demand?
A) The demand for labor increases.
B) The demand for labor decreases.
C) The quantity demanded of labor increases, but the demand for labor curve does not shift.
D) The quantity demanded of labor decreases, but the demand for labor curve does not shift.
Correct Answer:
Verified
Correct Answer:
Verified
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