Other things being equal, an increase in wages paid to workers in firms making portable power banks will cause

Name: Other things being equal, an increase in wages paid to workers in firms making portable power banks will cause
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An increase in wages paid to workers raises the production costs for firms making portable power banks. This makes it more expensive to produce each unit, leading to a decrease in supply, as firms are less willing or able to supply the same quantity at previous prices.

Other Things Being Equal, an Increase in Wages Paid to Workers