How Will an Increase in Labor Productivity Affect Equilibrium in the Labor

question 88

Multiple Choice

How will an increase in labor productivity affect equilibrium in the labor market?

• A)The supply of labor will increase and the equilibrium wage and quantity of labor will increase.
• B)The demand for jobs will increase and the equilibrium wage and quantity of labor will increase.
• C)The demand for labor will increase and the equilibrium wage and quantity of labor will increase.
• D)The demand for labor will decrease because fewer workers will be needed to produce the same output. The equilibrium wage and quantity of labor will decrease.

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