As product markets become more competitive and the markup decreases, we wouldexpect which of the following to occur?Select one:a. no change in the real wage in the medium runb. an increase in the aggregate price level and an increase in output in the mediumrunC. an increase in the interest rate in the medium runO d. an increase in the real wage in the medium run

The increased competitiveness in product market implies that there are more number of firms…

As product markets become more competitive and the markup decreases, we would expect which of the following to occur? Select one: O a. no change in the real wage in the medium run O b. an increase in the aggregate price level and an increase in output in the medium run O c. an increase in the interest rate in the medium run O d. an increase in the real wage in the medium run

As product markets become more competitive and the markup decreases, we would expect which of the following to occur? Select one: O a. no change in the real wage in the medium run O b. an increase in the aggregate price level and an increase in output in the medium run O c. an increase in the interest rate in the medium run O d. an increase in the real wage in the medium run

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 10QR

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