Why
is the supply curve of labour upward sloping?
substitution effect dominates the income effect
substitution effect leads to individuals working more
income effect leads individuals to work less
Tuesday, 10 September 2013
If the labour demand curve shifts to the left and the labour supply curve remains unchanged, what will happen to the equilibrium wage and the equilibrium level of employment? resources?
If
the labour demand curve shifts to the left and the labour supply curve remains
unchanged, what will happen to the equilibrium wage and the equilibrium level
of employment?
-
the equilibrium wage and equilibrium employment will fall
resources?
If the labour supply curve shifts to the left and the labour demand curve remains unchanged, what will happen to the equilibrium wage and the equilibrium level of employment?
If
the labour supply curve shifts to the left and the labour demand curve remains
unchanged, what will happen to the equilibrium wage and the equilibrium level
of employment?
-
The equilibrium wage will rise and equilibrium employment will fall
Subscribe to:
Posts (Atom)