"The Monkey's Paw" is a well-known short story written by W.W. Jacobs, not a play. It was first published in 1902 and has since become a classic in the realm of horror and suspense literature. While it has been adapted into various theatrical and cinematic productions, the core of the story remains a narrative. Nevertheless, I can certainly discuss the effects of the wishes granted in "The Monkey's Paw" on the characters in the story as if it were a play, keeping in mind the key elements of drama, such as plot, character development, and conflict.

In the story, "The Monkey's Paw," the main characters, Mr. and Mrs. White and their son Herbert, experience a dramatic and chilling turn of events when they come into possession of a magical monkey's paw. This paw is said to have the power to grant its owner three wishes. However, the wishes in this tale do not lead to the expected outcomes of happiness and fulfillment. Instead, they have a profound and unsettling effect on the characters and drive the dramatic tension of the narrative.

Let's explore the effects of the granted wishes on the characters:

1. Mr. and Mrs. White:
   At the beginning of the story, Mr. and Mrs. White are portrayed as a content and relatively happy couple. However, their curiosity about the monkey's paw and its purported power leads them to make the first wish – a seemingly harmless request for £200. The immediate effect of this wish is a sudden and unexpected windfall, but the money comes as a result of their son Herbert's tragic death in a work-related accident. The monetary gain is, in reality, a compensation for their loss.

   This turn of events leads to a profound transformation in the characters of