If workers who make DVDs get a pay raise, the equilibrium price of a DVD __________and the equilibrium quantity of DVDs__________ .

Question

Quizplus · Accepted Answer

If workers who make DVDs get a pay raise, the cost of producing DVDs will increase causing a decrease in the supply of DVDs, resulting in a rise in the equilibrium price of DVDs. This increase in price will lead to a decrease in the equilibrium quantity of DVDs demanded by consumers.

If Workers Who Make DVDs Get a Pay Raise, the Equilibrium