Multiple Choice
The supply curve of truck drivers is upward sloping and demand curve is downward sloping. A reduction in the price of hauling freight by truck relative to the price of hauling freight by rail will ____ the equilibrium wage of truck drivers and ____ the number of drivers employed.
A) decrease; decrease
B) decrease; increase
C) increase; decrease
D) increase; increase
Correct Answer:
Verified
Correct Answer:
Verified
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