Multiple Choice
Refer to the above graph,which shows the supply and demand for unionized manufacturing workers.The initial equilibrium point is point 1.The wages paid in comparable nonunion occupations increase significantly,while at the same time the price of manufactured goods increases.Which point would represent the new equilibrium?
A) 2
B) 3
C) 4
D) 5
Correct Answer:

Verified
Correct Answer:
Verified
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