An increase in the price of a product will ultimately cause a(n) _____ in equilibrium price and

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An increase in the price of a product will ultimately cause a(n) _____ in equilibrium price and a(n) _____ in equilibrium quantity in the labor market of workers that produce that product.

A. decrease, decrease

B. decrease, increase

C. increase, decrease

D. increase, increase

Related Book For answer-question

Economics Principles and Policy

ISBN: 978-0538453653

12th edition

Authors: William J. Baumol, Alan S. Blinder

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Posted Date: Mar 12, 2019 10:05 AM

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An increase in the price of a product will ultimately cause a(n) _____ in equilibrium price and

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Economics Principles and Policy

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