If the demand for alarm clocks decreases,the effect on the alarm clock job market will be to

Name: If the demand for alarm clocks decreases,the effect on the alarm clock job market will be to
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Question

Quizplus · Accepted Answer

Decrease in demand for alarm clocks will lead to a decrease in the demand for labor in the alarm clock industry, resulting in a surplus of workers. This surplus will drive down equilibrium wages as employers will have a larger pool of workers to choose from.

If the Demand for Alarm Clocks Decreases,the Effect on the Alarm