To increase the price of a product in competitive market

Reference no: EM13197648

If the price of a product produced in a competitive market increases.

which of the following is most likely to occur in the labor market for workers who produce the product?
A) the demand for labor and the number of workers hired both increase
B) the supply of labor and the numbers of workers hired both increase
C) the demand for labor and the number of workers hired both decrease
D) the supply of labor and the number of workers hired both decrease

Reference no: EM13197648

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