Multiple Choice
Suppose the demand for labor shifts rightward due to economic growth, but the supply of labor remains unchanged. How does this affect the market outcome under an efficiency wage equilibrium?
A) Efficiency wage and employment are higher.
B) Efficiency wage is lower, employment is higher.
C) Efficiency wage is higher, employment is lower.
D) Efficiency wage and employment are lower.
Correct Answer:
Verified
Correct Answer:
Verified
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