A rise in the wages of workers in the beef industry will: Decrease the supply of beef, raising the equilibrium price and quantity of beef. Decrease the supply of beef, raising the equilibrium price, but lowering the equilibrium quantity of beef. Decrease the demand for beef, lowering the equilibrium price and quantity of beef. Decrease the supply beef, raising the equilibrium price and quantity of beef. Increase the demand for beef, raising the equilibrium price and quantity of beef.