If other things are held constant, an increase in wages earned by workers in the

Question

If other things are held constant, an increase in wages earned by workers in the steel industry will cause Question 16 options: the supply of autos to decrease. the quantity of steel demanded to increase. the demand for autos to decrease. the quantity of steel supplied to decrease. If other things are held constant, an increase in wages earned by workers in the steel industry will cause If other things are held constant, an increase in wages earned by workers in the steel industry will cause the supply of autos to decrease. the quantity of steel demanded to increase. the demand for autos to decrease. the quantity of steel supplied to decrease. the supply of autos to decrease. the quantity of steel demanded to increase. the demand for autos to decrease. the quantity of steel supplied to decrease. the supply of autos to decrease. the quantity of steel demanded to increase. the demand for autos to decrease. the quantity of steel supplied to decrease.

Explanation / Answer

D.))) THE QUANTITY OF STEEL SUPPLIED TO DECREASE

Since changes in inputs for a good will cause shifts in supply curves, the supply curve in the market for steel will decrease, so the answer is D. The shift in supply is the most immediate consequence of the rise in wages, even though quantity supplied will also go down as a result.

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