If producers who hire labor in a competitive labor market decide to purchase the new automated machine that completes the work of 30 employees, in the short run we would expect the:
A. labor-demand curve to shift to the right and wages would increase.
B. labor-supply curve to shift to the left and wages would rise.
C. labor-demand curve to shift to the left and wages would decrease.
D. labor-supply curve to shift to the right and wages would rise.
Answer: C
Economics
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