Asked by
Amanda Parrish
on Nov 16, 2024
Verified
Refer to Scenario 18-2. If the price of fresh Pacific salmon were to decrease significantly, it is most likely that Gertrude would
A) reduce her demand for crew members.
B) hire more boats.
C) become a seller in at least one factor market.
D) hire more crew members.
Demand for Crew
The need or requirement for staff or team members, particularly in sectors such as aviation, maritime, and entertainment, where specific skill sets are necessary for operations.
Factor Market
A marketplace for the services of a factor of production, such as labor, capital, or land.
- Investigate the effects of market condition fluctuations, including wages and product costs, on the employment strategies firms adopt to maximize profits.
- Gain an insight into the relationship between the pricing of goods, technological growth, and their impact on labor market fluctuations.
Verified Answer
LI
Learning Objectives
- Investigate the effects of market condition fluctuations, including wages and product costs, on the employment strategies firms adopt to maximize profits.
- Gain an insight into the relationship between the pricing of goods, technological growth, and their impact on labor market fluctuations.