Answer to Question #125839 in Microeconomics for Faith

Question

assume the maket demand is d1, themarket supply curve is s equilibrium is at e. now the market wage rate paid to truckdrivers increases fromr250 to r300. identify the type of disequilibrium that will result from such a wage increase

Answer 1

If the market wage rate paid to truckdrivers increases fromr250 to r300, then the supply will decrease, so there will be a shortage.