If the average market price for haircuts increases,all else equal,which of the following is LEAST likely to occur as a result?
A) More new salons will open.
B) Existing salons and barber shops will hire more stylists and barbers.
C) Some workers will leave other jobs in order to become hair stylists.
D) Many salons will go out of business.
Correct Answer:
Verified
Q47: When you give up the opportunity to
Q48: The law of demand
A) always holds true.
B)
Q49: Households are generally buyers in the markets
Q50: What might happen if the market price
Q51: Q53: What phrase do economists use to describe Q54: What is the price of labor in Q55: The number of markets is
A) Fixed.
B) Always
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