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Consider the graph below. Suppose new child safety laws cause a large number of toy manufacturers to pull these products from stores and discontinue the
Consider the graph below. Suppose new child safety laws cause a large number of toy manufacturers to pull these products from stores and discontinue the production of many of their products. What is the resulting effect on the demand curve, wage, and quantity of workers in the toy industry? Price of Labor (Wage per hour) Supply Demand QE Quantity of Labor Demand shifts to the left, the quantity of workers decreases, and the wage falls. Demand shifts to the right, the quantity of workers increases, and the wage falls. O Demand shifts to the right, the quantity of workers increases, and the wage rises. O Demand shifts to the left, the quantity of workers decreases, and the wage rises
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