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2 weeks ago

Question 1.

In situations where new technologies are considered substitutes for workers, demand for these workers will ________, resulting in ________ in the equilibrium wage.

• increase; a decrease

• increase; an increase

• decrease; a decrease

• decrease; an increase

Question 2.

If the labor supply is unchanged, an increase in the demand for labor will

• increase the equilibrium wage and decrease the number of workers employed.

• increase the equilibrium wage and increase the quantity of jobs demanded.

• decrease the equilibrium wage and increase the number of workers employed.

• increase the equilibrium wage and increase the number of workers employed.
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Microeconomics
Edition: 7th
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wrote...
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2 weeks ago
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Answer 1

decrease; a decrease

Answer 2

increase the equilibrium wage and increase the number of workers employed.
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2 weeks ago
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