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Title: If, at a particular wage rate in a competitive market, the quantity demanded of labor exceeds the ... Post by: janeniz on Oct 1, 2023 If, at a particular wage rate in a competitive market, the quantity demanded of labor exceeds the quantity supplied of labor, then ▸ the supply curve will shift to the left, the demand curve will shift to the right, and the surplus of labor will be eliminated. ▸ since wages are so low, the quantity supplied of workers will decrease further, and the quantity demanded will increase further. ▸ some workers will begin to demand higher wages, as a result, employers will begin to hire more workers. ▸ the supply curve will shift to the right, the demand curve will shift to the left, and the shortage of labor will be eliminated. ▸ none of the above Title: Re: If, at a particular wage rate in a competitive market, the quantity demanded of labor exceeds the ... Post by: Grem on Oct 1, 2023 Content hidden
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