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Shalnov [3]
2 years ago
6

Which of the following events would unambiguously cause a decrease in the equilibrium price of cotton shirts? a. a decrease in t

he price of wool shirts and a decrease in the price of raw cotton b. an increase in the price of wool shirts and an increase in the price of raw cotton c. an increase in the price of wool shirts and a decrease in the price of raw cotton d. a decrease in the price of wool shirts and an increase in the price of raw cotton
Business
1 answer:
ella [17]2 years ago
3 0

Answer:

a. a decrease in the price of wool shirts and a decrease in the price of raw cotton

Explanation:

A decrease in the price of wool shirts would lead to an increase in demand for wool shirts and a decrease in demand for cotton shirt. Cotton and wool shirts are substitutes goods. Price would fall and quantity would fall. A decrease in the price of raw cotton would increase production of cotton shirts and the supply of shirts would increase. This would lead to a rightward shift in the supply curve. Quantity would increase and price would fall. The combined effect of this would lead to an unambiguous decrease in price.

I hope my answer helps you

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The correct term for the situation proposed in the question is employment at will. The other options describe agreements that have arisen since the creation of the labor unions.

The first option, a closed shop, described an agreement made between the hiring party and the labor unions in which the hiring party agrees to <u>only hire members of the union</u>, while an open shop is just the opposite.

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Therefore the only option that existed prior to the development of labor unions is employment at will, which allowed the termination of a contract at any time for any reason.

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brainly.com/question/518131?referrer=searchResults

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