Multiple Choice
refer to the following information given in the table below. There are initially 28 workers in market A and 63 workers in market B as indicated by the shaded cells. All markets are assumed competitive and there is perfect information and costless migration; jobs in markets A and B are identical in all nonwage aspects.
-After all adjustments to equilibrium take place in this market,we expect to find that:
A) the total value of output is increased,but economic efficiency is reduced
B) both the total value of output and economic efficiency are increased
C) both the total value of output and economic efficiency are reduced
D) changes in the total value of output and economic efficiency cannot be determined
Correct Answer:
Verified
Correct Answer:
Verified
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