Refer to the Following Diagram of a Competitive Labor Market

question 14

Multiple Choice

refer to the following diagram of a competitive labor market.

-Suppose the wage is currently W₃ and L₁ is the level of employment.Then we should expect the wage to:

• A)rise and employment to rise
• B)rise and employment to fall
• C)fall and employment to rise
• D)fall and employment to fall

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