Answer:
The correct answer is letter "C": decrease equilibrium price and increase equilibrium quantity
.
Explanation:
An increase in the number of sellers in a market of a certain good implies the quantity demanded for that good will increase, thus the equilibrium quantity will be higher. According to the demand law, if the quantity demanded goes up, the price is likely to decrease, so, the equilibrium price will be lower.
Thus, <em>the increase in sellers will raise the equilibrium quantity decreasing the equilibrium price.</em>
In 20 years you'll have $5,220.
2,000×0.08=160
2,000+(160×20)= 5,220.
C. None of the individuals who end up working are paid more than if the were paid the equilibrium wage.
Answer:
You just press answer and click on the question. You have to be fast though because there is a 2 person maximum to answer a question.
