Consider the market for opticians What is likely to happen to the equilibrium

Consider the market for opticians what is likely to

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75) Consider the market for opticians. What is likely to happen to the equilibrium wage and quantityof opticians if more and more people turn to laser eye surgery instead of wearing glasses or contactlens?A) The equilibrium wage and the equilibrium quantity of opticians fall.B) The equilibrium wage rises and the equilibrium quantity of opticians falls.C) The equilibrium wage and the equilibrium quantity of opticians rise.D) The equilibrium quantity falls and the equilibrium wage of opticians rises.Answer: A75)Diff: 2Page Ref: 553/553Topic: Labor Market EquilibriumLearning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factorsupply and labor in factor marketsAACSB: Analytic Skills76) Suppose the government grants child care subsidies to mothers entering the labor force. What islikely to happen to the equilibrium wage and quantity of labor?76)Diff: 2Page Ref: 555/555Topic: Labor Market EquilibriumLearning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factorsupply and labor in factor marketsAACSB: Analytic Skills77) Consider the market for pilots. What is likely to happen to the equilibrium wage and quantity ofpilots if the government enforces a lower mandatory retirement age, say from age 65 to age 62?77)Diff: 2Page Ref: 555/555Topic: Labor Market EquilibriumLearning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factorsupply and labor in factor marketsAACSB: Analytic Skills24
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  • Economics, Prime number, AACSB, Page Ref, factor demand

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