Q
A decrease in the supply of labour is likely to lead to ?
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A
A. A lower equilibrium wage and lower quantity of labour
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B
B. A lower equilibrium wage and higher quantity of labour
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C
C. A higher equilibrium wage and higher quantity of labour
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D
D. A higher equilibrium wage and lower quantity of labour
Correct Answer:
D. D. A higher equilibrium wage and lower quantity of labour
