Suppose the market for coffee shop workers is currently in equilibrium. If the supply of coffee...
Suppose the market for coffee shop workers is currently in equilibrium. If the supply of coffee shop workers increases, which of the following are consequences?
Select all that apply:
-
equilibrium wage will fall
-
equilibrium wage will rise
-
equilibrium quantity will fall
-
equilibrium quantity will rise
Homework Answers
-
equilibrium wage will fall
Explanation: If the supply of coffee shop workers increases, the supply curve would shift towards the left. If the demand curve remains fixed, the wage will fall as a result.
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Suppose the market for coffee shop workers is currently in
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