Assume wages paid by a firm to its workers decrease.What will be the reaction of consumers as the market moves to its new equilibrium?
A) Quantity demanded will decrease.
B) Quantity demanded will increase.
C) The demand curve will shift to the left.
D) There will be no reaction by consumers, since input prices determine supply, not demand.
Correct Answer:
Verified
Q21: Assume the Congress approves increased drilling for
Q22: Assume an auto firm's factories are capable
Q23: Assume declining profits in the market for
Q24: In the market for a normal good,what
Q25: All else constant,a large decrease in the
Q27: Referring to the previous question,which of the
Q28: Referring to the previous question,what will happen
Q29: All else constant,an increase in the number
Q30: Which of the following would cause a
Q31: Assume declining profits in the market for
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents