Multiple Choice
What happens to the equilibrium wage and quantity of labour if output price rises?
A) The equilibrium wage and the equilibrium quantity of labour rise.
B) The equilibrium wage and the equilibrium quantity of labour fall.
C) The equilibrium wage falls and the equilibrium quantity of labour rises.
D) The equilibrium wage rises and the equilibrium quantity of labour falls.
Correct Answer:
Verified
Correct Answer:
Verified
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