Microeconomics - Milestone 3 (17)

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Economics

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Nov 24, 2024

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CONCEPT → Unions 23 RATIONALE The higher wage negotiated by the union causes the quantity of labor supplied by workers to rise. When only the wage changes, this will be a movement along the supply curve, not a shift in the curve. Report an issue with this question Suppose that a state decides to remove several mandatory requirements to qualify for state government jobs that have kept the number of applicants low. What will happen to the supply of labor and the wage in this market? ● right. The quantity supplied falls. There is no shift of the supply curve. ● Wages will rise because of the decrease in the supply of workers. Wages will fall because of the increase in the supply of workers. UNIT 3 — MILESTONE 3 24/25
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