I need an economic teacher to answer 3questions in 5mins.?

Question

As markets become more competitive, we know that:

a. the ps relation to shift up

b. the ps relation to shift down

c. the ws relation to shift up

d. the ws relation will shift down

an increase in the markup of price over cost will cause:

a. th ps relation to shift up

b. the ps relation to shift down

c. the ws relation to shift up

d. the ws relation to shift down

Answer 1

Assuming "ps" means prices and "ws" means wages

1. b

More competitive markets would drive prices down

2. a

If the markup increases then price would be set higher above marginal cost