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If Wages Drop Below the Market Equilibrium Level in a Competitive

Question 119

Multiple Choice

If wages drop below the market equilibrium level in a competitive labor market:


A) firms will demand more labor than workers are willing to supply.
B) firms will have to offer higher wages to attract the workers they need.
C) there won't be enough workers willing to work at that wage.
D) All of these statements are true.

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