If every worker wants ten dollars more per hour to work,then wages will
A) go up by $10.
B) go up by more than $10.
C) go up by less than $10.
D) go down as employment falls.

Question

Quizplus · Accepted Answer

If every worker wants ten dollars more per hour to work, it does not necessarily mean that their wages will go up by exactly $10. The increase in wages will depend on various factors, like the availability of jobs, skill level of employees, and demand for labor. If the demand for labor stays the same and all workers get the raise they want, then the supply of labor will increase, leading to an oversupply of labor and potentially lower wages. Therefore, the wages may go up by less than $10 if the market conditions are not favorable for a significant increase in wages.

If Every Worker Wants Ten Dollars More Per Hour to Work,then