Suppose the wage rate in a certain industry rises, and firms hire fewer workers. The best explanation of this is that labor

Name: Suppose the wage rate in a certain industry rises, and firms hire fewer workers. The best explanation of this is that labor
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When the wage rate rises and firms hire fewer workers, it suggests that the supply of labor has decreased, leading to higher wages and reduced employment.

Suppose the Wage Rate in a Certain Industry Rises, and Firms