Use the Information Below to Answer the Following Questions

question 37

Multiple Choice

Use the information below to answer the following questions.
Fact 3.5.1
The market for coffee is initially in equilibrium.Pepsi is a substitute for coffee;cream is a complement of coffee.Consider the market for coffee.Assume that all ceteris paribus assumptions continue to hold except for the event listed.
-Refer to Fact 3.5.1.If there is an increase in the wages of farm workers who harvest coffee beans,the equilibrium quantity of coffee

• A)increases.
• B)decreases.
• C)remains the same.
• D)increases or decreases depending on the slope of the supply and demand curves.
• E)increases or decreases depending on the relative shifts of the supply and demand curves.

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Definitions:

Security Needs

The need to protect oneself from physical and economic harm.

Minimum-wage Laws

Regulations established by government mandating the lowest hourly rate that can be paid to an employee by employers.

Micro-management

An excessive control or attention on minor details, often in a managerial context, limiting the autonomy of employees.