An increase in demand for French fries will cause equilibrium wage rates:
a. and quantities of potato workers hired to rise.
b. and quantities of potato workers hired to fall.
c. to rise and quantities of potato workers hired to fall.
d. to fall and quantities of potato workers hired to rise.
e. and quantities of potato workers hired to stay the same.
a
Economics
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Taxes on labor income tend to encourage
a. workers to work fewer hours. b. second earners to stay home c. the elderly to retire early d. the unscrupulous to enter the underground economy. e. all of the above
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Why are estimated models of demand and consumer behavior useful to managers?
What will be an ideal response?
Economics