The figure given below shows the income-leisure trade off of an individual.Figure 16.5
AB and AC: Income constraints of the individual
I1, I2, and I3 curves show the income leisure choices of the individual.
-Which of the following is an impact of the restriction on immigration on the domestic firms?
A) The domestic firms would produce more and reap greater profits.
B) The domestic firms would hire more unskilled laborers at lower wages.
C) The domestic firms would charge low prices for their products.
D) The domestic firms would have to pay higher wages and make less profit.
E) The domestic firms would make above normal profits in the long run.
Correct Answer:
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Q43: The figure given below shows the income-leisure
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Q50: The figure given below shows the income-leisure
Q51: The figure given below shows the income-leisure
Q52: The figure given below shows the income-leisure
Q53: The figure given below shows the income-leisure
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