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Assume That This Graph Illustrates a Perfectly Competitive Labor Market

Question 64

Multiple Choice

Assume that this graph illustrates a perfectly competitive labor market. Assume that this graph illustrates a perfectly competitive labor market.   If the supply of person-hours in this market shifts to the right, then the equilibrium wage will ________ and the equilibrium number of person-hours will ________. A) fall; increase B) increase; increase C) stay the same; increase D) fall; decrease If the supply of person-hours in this market shifts to the right, then the equilibrium wage will ________ and the equilibrium number of person-hours will ________.


A) fall; increase
B) increase; increase
C) stay the same; increase
D) fall; decrease

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