Consider the market for opticians.What is likely to happen to the equilibrium wage and quantity of opticians if more and more people turn to laser eye surgery instead of wearing glasses or contact lens?
A)The equilibrium wage and the equilibrium quantity of opticians rise.
B)The equilibrium wage and the equilibrium quantity of opticians fall.
C)The equilibrium wage rises and the equilibrium quantity of opticians falls.
D)The equilibrium wage falls and the equilibrium quantity of opticians rises.

Question

Quizplus · Accepted Answer

As more people opt for laser eye surgery, the demand for opticians decreases, leading to a fall in both the equilibrium wage and quantity of opticians.

Consider the Market for Opticians