19. Every semester there is an active market for engineering tutors as students scramble to master difficult concepts before exams. You gathered the data on wages and labor supplied in the table below. What would explain this pattern? year wage Labor supplied 2018 $25 90 hours 2019 $30 90 hours a. demand increased and supply increased b. demand increased and supply decreased c. demand decreased and supply increased d. demand decreased and supply decreases

19. Every semester there is an active market for engineering tutors as students scramble to master difficult concepts before exams. You gathered the data on wages and labor supplied in the table below. What would explain this pattern? year wage Labor supplied 2018 $25 90 hours 2019 $30 90 hours a. demand increased and supply increased b. demand increased and supply decreased c. demand decreased and supply increased d. demand decreased and supply decreases

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter26: Factor Markets: With Emphasis On The Labor Market

Section26.1: Factor Markets

Problem 4ST

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