14. Suppose a firm which makes widgets hires labor in a perfectly competitive factor market. Which of the following is most likely to lead to an increase in the number of workers hired, but no increase in the wage paid.
  1. A decrease in the price of a good which is a substitute for widgets.
  2. An increase in the price of a good which is a complement for widgets.
  3. A decrease in consumer's incomes if widgets are an inferior good.
  4. A change in consumer's expectations leading them to believe that the price of widgets will fall in the future.
  5. Any change in the demand for the product of a firm that hires labor in competitive factor markets will lead to a change both in numbers employed and in the wage.

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