(Answered) A sudden increase in the demand for air conditioners

Management Studies

A sudden increase in the demand for air conditioners increased the earnings of the workers employed in air conditioner-manufacturing firms and attracted workers from other sectors. Which of the following will be true in the market for workers employed in air conditioner-manufacturing firms?

There will be a leftward shift of the labor supply curve, leading to a decrease in the equilibrium wage and employment.
There will be a rightward shift of the labor supply curve, leading to an increase in the equilibrium wage and employment.
There will be a leftward shift of the labor supply curve, leading to an increase in the equilibrium wage and a decrease in employment.
There will be a rightward shift of the labor supply curve, leading to a decrease in the equilibrium wage and an increase in employment.

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Business Management, Management Studies

Category:- Business Management
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