Workers in Burginville are equally productive at every age. The mandatory retirement age in Burginville is 45 years old.
Which of the following is likely to happen if the mandatory retirement age is lowered to 40 ?
Choose 1 answer:
A) Wages decrease and output increases.
(B) Wages and employment decrease.
(c) The supply of labor increases.
(D) The supply of labor decreases.
(E) Wages and employment increase.
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