If one small restaurant decreases its demand for cooks,then
A) the wages of cooks will increase,and employment of cooks will decrease.
B) the wages of cooks will decrease,and employment of cooks will increase.
C) the wages of cooks will remain the same,and employment of cooks will decrease.
D) the wages of cooks will remain the same,and employment of cooks will increase.
E) the wages of cooks will remain the same,and employment of cooks will remain the same.

Question

Quizplus · Accepted Answer

If demand for cooks decreases, there will be a surplus of cooks in the market, leading to increased competition for fewer jobs. This will drive down wages and result in fewer people wanting to work as cooks. Therefore, the wages of cooks will remain the same, but employment of cooks will decrease.

If One Small Restaurant Decreases Its Demand for Cooks,then