Use the Information Below to Answer the Following Questions

question 98

Multiple Choice

Use the information below to answer the following questions.
Fact 18.2.1
Wanda's is a fish store that hires students to pack the fish. The fish market is competitive. Originally the price is 50¢ a kilogram. The market for packers is competitive and their market wage rate is $7.50 an hour. Then the market price of fish falls to 33.33¢ a kilogram but the wage rate of fish packers remains at $7.50 an hour.
-Refer to Fact 18.2.3. As a result,

• A)Wanda's demand for labour curve shifts rightward and the firm hires more students.
• B)the value of marginal product decreases, but Wanda's still continues to hire the same number of students.
• C)Wanda's demand for labour curve shifts leftward and the firm hires fewer students.
• D)marginal product increases so Wanda's hires more students.
• E)Wanda's demand for labour curve shifts leftward and the students' supply of labour curve shifts leftward, and the firm hires fewer students.

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