Consider the Labor Market for Computer Programmers

question 63

Multiple Choice

Consider the labor market for computer programmers. During the late 1990s, the value of the marginal product of all computer programmers increased dramatically. Holding all else equal, what effect did this process have on the labor market for computer programmers? The equilibrium wage

• A)increased, and the equilibrium quantity of labor increased.
• B)increased, and the equilibrium quantity of labor decreased.
• C)decreased, and the equilibrium quantity of labor increased.
• D)decreased, and the equilibrium quantity of labor decreased.

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