Multiple Choice
Suppose that lawyers are hired in two industries,A and B.Both industries are in equilibrium with identical labor supply and demand curves.Given other things are unchanged,if the demand for lawyers falls in industry B,the wage rate:
A) will fall in both industries,while employment will fall in B and increase in A.
B) as well as employment will fall in both industries.
C) as well as employment will fall in B,while there will be no change in A.
D) will stay constant since all participants are price-takers,but employment will fall in A and B.
Correct Answer:
Verified
Correct Answer:
Verified
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