Use the Figure to Answer the Following Question(s)

question 118

Multiple Choice

Use the figure to answer the following question(s) .
Figure 12-2

If an unanticipated increase in demand in Figure 12-2 shifts the demand for accountants from D ₁ to D ₂, how will the higher level of demand influence the wages of accountants in the short run and the long run?

• A) In the short run, wages will increase to W ₂, but the wage increase will be smaller in the long run.
• B) In the short run, wages will be less than W ₂, but in the long run, they will rise to W ₂.
• C) In the short run, wages will increase to W ₂, and in the long run, they will be even higher than W ₂.
• D) Employment will increase, but the higher level of demand will not alter the wages of accountants.

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