If the price for a product produced in a competitive market increases, which of the following is most likely to occur in the labor market for workers who produce that product?
a. The demand for labor and the number of workers hired both increase.
b. The supply of labor and the number of workers hired both increase.
c. The demand for labor and the number of workers hired both decrease.
d. The supply of labor and the number of workers hired both decrease.
e. There is a movement along the demand for labor curve, and firms hire more workers.
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