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Incomes (wages) of all workers increase. This results in an increase in all prices because there is now a shortage at the original price.
Incomes (wages) of all workers increase. This results in an increase in all prices because there is now a shortage at the original price. This new equilibrium is establjshed because of the "Invisible Hand." Graph is required. Yes this true because
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
