The management of a locally produced denim wear manufacturer have negotiated with trade unions to increase the wage rate for workers by 11%. Critically discuss the effect of this increase on the equilibrium price and quantity in the denim industry (ceteris paribus). Use a  graph to support your answer

Principles of Economics 2e
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ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
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The management of a locally produced denim wear manufacturer have negotiated with trade unions to increase the wage rate for workers by 11%. Critically discuss the effect of this increase on the equilibrium price and quantity in the denim industry (ceteris paribus). Use a  graph to support your answer

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