An increased demand for the services of tax accountants
A) may raise their fees but cannot affect their costs.
B) may raise their fees by making it more costly for them to provide services to any client.
C) will lead to fewer people using the services of tax accountants because higher prices mean a smaller quantity demanded.
D) will lower their fees in the long run by producing more tax accountants.
Question 2
Refer to the table above. If the market supply of labor per week when the wage rate is 100 is 125 hours, labor supplied by Jim per month at the wage rate is:
A) 12 hours.
B) 30 hours.
C) 50 hours.
D) 75 hours.
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