The market shown in Exhibit 4-2 is initially in equilibrium at point E. Union negotiations for...

  

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The market shown in Exhibit 4-2 is initially in equilibrium at point E₁. Union negotiations for workers producing good X result in a wage increase. Other things being equal, which of the following is the new equilibrium after this wage increase is in effect? ⒸE₁. OE2. ⒸE3. ⒸE4- Exhibit 4-2 Supply and demand curves Price (dollars per unit) P3 P2 P₁ 0 1 1 T 1 1 1 1 1 I N T E4 D₁ Q₂ Q₁ Q3 Q4 Quantity of good x (units per time period $2 S1 D2 The market shown in Exhibit 4-2 is initially in equilibrium at point E₁. Union negotiations for workers producing good X result in a wage increase. Other things being equal, which of the following is the new equilibrium after this wage increase is in effect? ⒸE₁. OE2. ⒸE3. ⒸE4- Exhibit 4-2 Supply and demand curves Price (dollars per unit) P3 P2 P₁ 0 1 1 T 1 1 1 1 1 I N T E4 D₁ Q₂ Q₁ Q3 Q4 Quantity of good x (units per time period $2 S1 D2

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