Suppose the labor market for industrial workers is in equilibrium. What will happen to the equilibrium wage and employment level if: the demand for industrial workers increases, everything else remaining unchanged? 2. the supply of industrial worker decreases, everything else remaining unchanged?
Suppose the labor market for industrial workers is in equilibrium. What will happen to the equilibrium wage and employment level if: the demand for industrial workers increases, everything else remaining unchanged? 2. the supply of industrial worker decreases, everything else remaining unchanged?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose the labor market for industrial workers is in equilibrium. What will happen to the equilibrium wage and employment level if:
- the
demand for industrial workers increases, everything else remaining unchanged?
2. the supply of industrial worker decreases, everything else remaining unchanged?
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