D. Assume that demand for jewelry falls. What do you expect will happen to wages and employment in the beaded bag industry? Wages in the beaded bag industry will: Increase Decrease Remain the same It depends Employment in the beaded bag industry will: Increase Decrease Remain the same It depends Add the beaded bag industry_graph to your graph sheet and illustrate the outcomes in both markets. Jewelry Industry Beaded Bag Industry W W LS $25 LD # workers # workers Explain your reasoning for part D (above) using economic concepts:

D. Assume that demand for jewelry falls. What do you expect will happen to wages and employment in the beaded bag industry? Wages in the beaded bag industry will: Increase Decrease Remain the same It depends Employment in the beaded bag industry will: Increase Decrease Remain the same It depends Add the beaded bag industry_graph to your graph sheet and illustrate the outcomes in both markets. Jewelry Industry Beaded Bag Industry W W LS $25 LD # workers # workers Explain your reasoning for part D (above) using economic concepts:

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Theory Of Consumer Choice

Section: Chapter Questions

Problem 9PA

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