7. What is most likely to occur if wages decrease from point Wes to a point below Wy? Use the graphic below. DE a) Families will continue as if nothing has occurred Ob) Families will feel constrained to send the children they already have to work (despite their age) d) Families will have more children without sending existing children to work d) None of the above

Managerial Economics: A Problem Solving Approach
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ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter2: The One Lesson Of Business
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7. What is most likely to occur if wages decrease from point Wes to a point below Wu? Use the
graphic below.
Oa) Families will continue as if nothing has occurred
Ob) Families will feel constrained to send the children they already have to work (despite their age)
c) Families will have more children without sending existing children to work
Od) None of the above
Transcribed Image Text:7. What is most likely to occur if wages decrease from point Wes to a point below Wu? Use the graphic below. Oa) Families will continue as if nothing has occurred Ob) Families will feel constrained to send the children they already have to work (despite their age) c) Families will have more children without sending existing children to work Od) None of the above
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