How do the price and quantity change for lawn chairs if the cost of labor used to make lawn chairs decreases?

Name: How do the price and quantity change for lawn chairs if the cost of labor used to make lawn chairs decreases?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When the cost of labor decreases, it becomes cheaper to produce lawn chairs. This typically leads to a decrease in the price of lawn chairs as manufacturers can afford to sell them for less. Additionally, the lower price often increases demand, leading to a higher quantity sold.

How Do the Price and Quantity Change for Lawn Chairs