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Which if the following statements best explains the observed difference in the wage premium current Chicago prostitutes earn when compared to the wage premium enjoyed
Which if the following statements best explains the observed difference in the wage premium current Chicago prostitutes earn when compared to the wage premium enjoyed by even low-rent prostitutes from 100 years ago? Group of answer choices The increased availability of substitutes, e.g., premarital sex, has increased the demand for and equilibrium price of sex with prostitutes. The increased availability of substitutes, e.g., premarital sex, has decreased the demand for and equilibrium price of sex with prostitutes. The increased supply of prostitutes has caused the equilibrium price of sex with prostitutes to decrease. The decreased supply of prostitutes has caused the equilibrium price of sex with prostitutes to increase
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