Plumbing and pipe-fitting require many of the same skills. If the wage paid to pipe-fitters increased then the effect on the market for plumbers would probably be:

A. An increase in demand

B. A decrease in demand

C. An increase in supply

D. A decrease in supply

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. If the commodities X and Y are perfect complements then:
  2. The behavior of MC curve is determined by the behavior of the:
  3. There is no difference between fixed and variable factors in the:
  4. Who wrote A Contribution to the Theory of Trade Cycle?
  5. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
  6. If as a result of a decrease in price, total outlay (expenditures) on a commodity increases, its price-elasticity…
  7. Law of Variable Proportions is regarding in:
  8. The situation of single buyer and single seller is called:
  9. The supply curve for the short-run competitive firm is the same as:
  10. The elasticity of substitution measures the percentage change in the ratio of inputs when any producer…
  11. At the shut-down point in perfect competition:
  12. A producer attains the least cost combination when the relation between Marginal Rate of Technical Substitution…
  13. Decrease in demand results in:
  14. To calculate the elasticity of demand, which of the following formula is used?:
  15. Technological Progress (Invention) can be defined as:
  16. A market demand schedule is obtained by adding individual demand schedules:
  17. Price mechanism has also given the name:
  18. The Prisoners Dilemma was presented by A.W.Tucker in:
  19. The longer the period of time, the elasticity of supply will be:
  20. Perfect competition assumes:
  21. The basic subject matter of economics is:
  22. With firms having cost differences under perfect competition, a firm, which earns normal profit in the…
  23. Price is measured in:
  24. At a point above the middle of a straight line demand curve, elasticity of demand is:
  25. If the price of Pepsi Cola goes down, you would predict:
  26. The income consumption curve (ICC) is the locus of points of consumer equilibrium resulting:
  27. For monopolistic competitive firm:
  28. In repeated game, the Prisoners Dillemma can have a:
  29. The name of the system of direct exchange is:
  30. If cross-elasticity of one commodity for another turns out to be zero, it means they are: