Holiday season the price of poster-size copies increases

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Phil's Copy Studio pays its workers $60 per day and sells poster-size copies for $10 per print. Now suppose during the holiday season the price of poster-size copies increases to $12. What happens?

The demand for labor decreases.

The demand for labor increases.

The quantity demanded of labor decreases, but the demand for labor curve does not shift.

The quantity demanded of labor increases, but the demand for labor curve does not shift.

Reference no: EM13984445

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