In a competitive labor market for bakers, the equilibrium wage rate A. rises if the market price of bakery items falls OB. rises if new technology makes it easier for anyone to be a baker O c. falls if the supply of bakers decreases D. rises if bakers become more productive

In a competitive labor market for bakers, the equilibrium wage rate A. rises if the market price of bakery items falls OB. rises if new technology makes it easier for anyone to be a baker O c. falls if the supply of bakers decreases D. rises if bakers become more productive

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Unemployment

Section: Chapter Questions

Problem 4CQQ

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Question

In a competitive labor market for bakers, the equilibrium wage rate
..
A. rises if the market price of bakery items falls
OB. rises if new technology makes it easier for anyone to be a baker
OC. falls if the supply of bakers decreases
D. rises if bakers become more productive

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