answer each of the following questions regarding the market for labor in the fast-food industry. a. if wages in the retail industry increase (assume that the retail industry requires similar skills as the fast-food industry), the market supply curve for labor will shift to the right. the point representing the equilibrium wage and quantity of workers will move up and to the right along the market supply curve for labor. the market supply curve for labor will shift to the left. the point representing the equilibrium wage and quantity of workers will move down and to the left along the market supply curve for labor. b. if new legislation limits the number of hours that workers under the age of 18 can work each week, the market supply curve for labor will shift to the left. the market supply curve for labor will shift to the right. the point representing the equilibrium wage and quantity of workers will move up and to the right along the market supply curve for labor. the point representing the equilibrium wage and quantity of workers will move down and to the left along the market supply curve for labor. c. if, in seeking to increase opportunities for lower income families, the government significantly increases subsidies available for individuals to pursue a college education, the market supply curve for labor will shift to the left. the market supply curve for labor will shift to the right. the point representing the equilibrium wage and quantity of workers will move down and to the left along the market supply curve for labor. the point representing the equilibrium wage and quantity of workers will move up and to the right along the market supply curve for labor.



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