The player in the economy which supplies labor in the factor market is the households.
<h3>What is supply of labor?</h3>
This refers to the number of labor who are willing and able to find work in an economy. The supply for labor is also the hours worked by a workers within a time period.
Hence, the player in the economy supplies labor in the factor market is the households.
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Answer:
b. increase as the demand for high tech skills increases.
Explanation:
Due to the fact that the demand for technological products is increasing, the demand for people who possess high tech skills would also increase as firms would want to provide more tech products to satisfy the demand of consumers.
This would lead to an increase the demand for people with high tech skills. When demand exceeds supply, wages would rise.
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Revenues - Asset
Expenses - Liability
Answer: c. there is no limit
Explanation: There is no limit to the number of products sold at varying prices when determining the business's break-even point. The break even point is defined as that volume of production where total costs (fixed and variable costs) equals total sales (revenue) resulting into a no-profit no-loss situation. As a result, when output falls below that point there is loss; and if output exceeds that point there is profit.