1 - Defining Resource Markets LEARNING OBJECTIVE: Identify factors of production in the resource markets. A tangible good like bottled water is considered a 8.) entrepreneurial resource b.) capital resource ) labor resource ( .) natural resource SUBMIT MY ANSWER Report an issue with this question2 - Supply of Labor LEARNING OBJECTIVE: Determine the outcome of changes on labor supply in a given situation. LOOOD Suppose that the job of a lineman, a worker who maintains overhead and underground powerlines, becomes a highly attractive job because of its outdoorsy nature. What will happen to the wage in this particular market? O a.) Wages will rise because of the increase in the supply of workers. O b.) Wages will fall because of the increase in the supply of workers. O c.) Wages will rise because of the decrease in the supply of workers. d.) Wages will remain the same SUBMIT MY ANSWER Report an issue with this question An Why inco hous 61OF Clear O Search3 - Demand of Labor LEARNING OBJECTIVE: Determine the outcome of changes on the labor demand in a given situation. The price of retail self-service checkout machines falls. What happens to the demand for cashiers and the wage for cashiers? a.) The demand for cashiers will increase, but the wage will fall. b.) The demand for cashiers will decrease, but the wage will rise. <. the demand for cashiers will decrease and wage fall as well. o d. increase rise well_ submit my answer report an issue with this question clear seardunit challenge supply in labor markets consider graph below. suppose there is excess workers a perfectly competitive market. which best describes resulting effect on price of per hour w above ve below quantity . rate remain at wbelow b. wbelow. toward equilibrium wabove searchunit den id what influx wages short run force before immigration s after web we d lf millions same. from we2 to we1- c. wei wer- od. clearnew tab https: unit imperfect competition types learning objective: describe based role power. company town where one employer offers all jobs locale no union exists example a. market monopsony c bilateral monopoly searchcompetition does have supplied dlabor qe demanded falls falls. rises rises. rises.c new ads by google save update your accou vip secu compared monopsonist mfc firm s. wm mrp x> G D https://app.sophia.org/spec/microeconomics-3-challenge-3-4/4/13656/bilateral-monopoly 5 New Tab https://www.prome... Ads by Google New Tab . Save Update Your AccouvIP Security UNIT 3 - CHALLENGE 4: Imperfect Competition in Labor Markets If we compare a bilateral monopoly to a competitive market, how would the wage change if this labor market went from a competitive market to a bilateral monopoly? Wage ($) 4 MFC for Firm SLabor W. Union W MRP for Firm ~ D, Labo Q QF Quantity of Labor ( ") The wage will definitely be unchanged. O b.) The wage will definitely fall. O c.) The wage will definitely rise. O d.) The wage will be indeterminate. Se