3385EconomicsMedium
A decrease in the supply of labour is likely to lead to?
AA higher equilibrium wage and lower quantity of labour
BA lower equilibrium wage and higher quantity of labour
CA higher equilibrium wage and higher quantity of labour
DA lower equilibrium wage and lower quantity of labour
Correct answer
A. A higher equilibrium wage and lower quantity of labour
Explanation
The correct answer is A higher equilibrium wage and lower quantity of labour.