Think about the labor market for orthodontists in the United States. Suppose a union is organized, and it successfully increases job qualification standards, meaning orthodontists have to acquire additional skills to meet the new standard. Assume the value of the marginal product does not change. All else equal, which labor market curve is impacted by the organization of a union and what happens to orthodontists' wages and employment? labor demand shifts left; wage decreases and employment decreases O labor demand shifts right; wage increases and employment increases O labor supply shifts left; wage decreases and employment increases O labor supply shifts right; wage increases and employment decreases O labor supply shifts left; wage increases and employment decreases

Think about the labor market for orthodontists in the United States. Suppose a union is organized, and it successfully increases job qualification standards, meaning orthodontists have to acquire additional skills to meet the new standard. Assume the value of the marginal product does not change. All else equal, which labor market curve is impacted by the organization of a union and what happens to orthodontists' wages and employment? labor demand shifts left; wage decreases and employment decreases O labor demand shifts right; wage increases and employment increases O labor supply shifts left; wage decreases and employment increases O labor supply shifts right; wage increases and employment decreases O labor supply shifts left; wage increases and employment decreases

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Is there an economic basis for the hostility towardunauthorized immigrants?
when denand for goods and services is high, firm are more likely to hire workers? true or false
Explain why child labour could actually be pareto-optimal.
Describe how the earnings gap between men and women has evolved in recent decades.
Explain and discuss the significance of the Efficiency Wage Theory and how it may result in discrimination in the workplace.
7 I am writing an assignment paper to study the role of social networks in wage differentials between industries. What kind of empirical model needs to be established for this question? I hope you can give me an example.
Describe the economic reasons why businesses use offshoring.
5
6c 6d
E1