Suppose wages in the shovel industry increase. Everything else held constant, this will cause the and the equilibrium quantity of shovels transacted to equilibrium price of shovels to Select one: A decrease increase B increase, decrease C. decrease, decrease
Suppose wages in the shovel industry increase. Everything else held constant, this will cause the and the equilibrium quantity of shovels transacted to equilibrium price of shovels to Select one: A decrease increase B increase, decrease C. decrease, decrease
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Suppose wages in the shovel industry increase. Everything else held constant, this will cause the
equilibrium price of shovels to and the equilibrium quantity of shovels transacted to
Select one:
A decrease increase
increase; decrease
DC decrease, decrease
D. increase, increase](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feb8c0a31-07e2-4f77-9347-b13ce2efb783%2F8dce2bab-cc81-47db-9f19-2b361be6bd7f%2Fetly0cp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose wages in the shovel industry increase. Everything else held constant, this will cause the
equilibrium price of shovels to and the equilibrium quantity of shovels transacted to
Select one:
A decrease increase
increase; decrease
DC decrease, decrease
D. increase, increase
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