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Suppose That the Market for Labor Is Initially in Equilibrium

Question 194

Multiple Choice

Suppose that the market for labor is initially in equilibrium. If the firm employs labor-saving technology, the equilibrium wage


A) and the equilibrium quantity of labor will rise.
B) and the equilibrium quantity of labor will fall.
C) will rise, and the equilibrium quantity of labor will fall.
D) will fall, and the equilibrium quantity of labor will rise.

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