Across the board increase in wages paid to auto workers

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Reference no: EM131193876

Which of the following statements correctly reflects the developments in the U.S. automobile industry following an across the board increase in wages paid to auto workers?

a. Equilibrium price will increase.

b. Equilibrium price will decrease.

c. Equilibrium price will not change.

d. Equilibrium price may decrease.

e. none of the above statements is correct.

Reference no: EM131193876

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