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Exhibit 4-3 Supply and Demand Curves the Market Shown

Question 32

Multiple Choice

Exhibit 4-3 Supply and demand curves Exhibit 4-3 Supply and demand curves The market shown in Exhibit 4-3 is initially in equilibrium at point E<sub>4</sub>. Union negotiations result in a wage increase. Other things being equal, which of the following is the new equilibrium after this wage increase is in effect? A) E<sub>1</sub>. B) E<sub>2</sub>. C) E<sub>3</sub>. D) E<sub>4</sub>. The market shown in Exhibit 4-3 is initially in equilibrium at point E4. Union negotiations result in a wage increase. Other things being equal, which of the following is the new equilibrium after this wage increase is in effect?


A) E1.
B) E2.
C) E3.
D) E4.

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