Use the Figure to Answer the Following Question(s)

Multiple Choice

Use the figure to answer the following question(s) .
Figure 12-2
-If an unanticipated increase in demand in Figure 12-2 shifts the demand for accountants from D₁ to D₂, how will the higher level of demand influence the wages of accountants in the short run and the long run?

A) In the short run, wages will increase to W₂, but the wage increase will be smaller in the long run.
B) In the short run, wages will be less than W₂, but in the long run, they will rise to W₂.
C) In the short run, wages will increase to W₂, and in the long run, they will be even higher than W₂.
D) Employment will increase, but the higher level of demand will not alter the wages of accountants.