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Cookiemonster Cookiemonster
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5 years ago
The equilibrium wage rate in an industry is determined by
A) finding where the market supply curve indicates that the substitution effect and income effect of a wage increase are offsetting.
B) the intersection of the market demand curve for labor and the market supply curve for labor.
C) the strength of the substitution effect relative to the elasticity of demand for labor.
D) whether workers or management are better at negotiating.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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Mkersey12Mkersey12
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5 years ago
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Cookiemonster Author
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#2
5 years ago
Just confirmed the same answer from my friend, thanks
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