Consider the Labor Market for Computer Programmers

question 304

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 equilibrium wage in the labor market for computer programmers?

• A) The equilibrium wage increased.
• B) The equilibrium wage decreased.
• C) The equilibrium wage did not change.
• D) It is not possible to determine the equilibrium wage.

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