If Company A raises its pay rate by one dollar per hour to hire additional workers and competitors immediately match the increase, what will be the most likely result?
A. Company A will hire higher quality workers.
B. The labor costs for Company A will increase, but it will be unable to hire additional workers.
C. Company A will hire the needed workers at a higher wage rate.
D. Competitors of Company A will lose employees to Company A.
Answer: B
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