15. Markets for the Factors of Production
Shifts in Labor Supply
Multiple Choice
Multiple ChoiceThe wages paid to pastry and sous chefs are $15 and $25, respectively. If pastry and sous chefs are alternative opportunities and the sous chef wage increased to $30, what would occur in the labor market for pastry chefs?
A
Labor demand increases
B
Labor demand decreases
C
Labor supply increases
D
Labor supply decreases
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