What happens to the equilibrium wage and quantity of labor if output price rises?
A) The equilibrium wage and the equilibrium quantity of labor rise.
B) The equilibrium wage rises and the equilibrium quantity of labor falls.
C) The equilibrium wage falls and the equilibrium quantity of labor rises.
D) The equilibrium wage and the equilibrium quantity of labor fall.
A
Economics
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First and foremost, a market consists of
a. substitute goods b. complementary goods c. goods produced by the same firm d. goods produced with the same inputs e. goods that serve dissimilar purposes, which is why they are grouped
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