Figure 15.1
-Refer to Figure 15.1. If the wage rate can easily adjust to clear the market, then if the wage rate is currently at $12:
A) the wage rate will decrease to eliminate the shortage.
B) the wage rate will decline to eliminate the surplus.
C) the wage rate will decline to eliminate the shortage.
D) the wage rate will increase to eliminate the shortage.
Correct Answer:
Verified
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