If the demand for dog grooming increases so that the price of dog grooming rises, then number of workers hired by Doug's Dog Grooming would
A) decrease.
B) increase.
C) remain unchanged.
D) Any of the above answers are possible.
B
You might also like to view...
Refer to Table 3-1. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. If the price of Kona coffee rises from $4 to $5, the market quantity demanded would
A) decrease by 115 lbs. B) decrease by 35 lbs. C) increase by 35 lbs. D) increase by 115 lbs.
Suppose a shortage for good X exists. Given this information, we know that
A) the price of good X will tend to rise toward the equilibrium level. B) the price of good X will tend to fall toward the equilibrium level. C) a government price floor should be imposed above the current price so that the market can work more effectively. D) a government price ceiling should be imposed above the current price so that the market can work more effectively.