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Peregrinus Peregrinus
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6 years ago
The market for engineers is initially in equilibrium. The demand curve for engineers shifts up. Assume the naive cobweb model holds such that in the first period, the labor supply is fixed, in the next period, wages are fixed, and so on. In period three, how will the wage rate compare to the new long run level?
A) The wage rate will be below its long run level.
B) The wage rate will equal its long run level.
C) The wage rate will be above its long run level.
D) uncertain (need more information)
Textbook 
Modern Labor Economics: Theory and Public Policy

Modern Labor Economics: Theory and Public Policy


Edition: 12th
Authors:
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thanhtanrx789thanhtanrx789
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6 years ago
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Peregrinus Author
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6 years ago
Just got PERFECT on my quiz
lierac00
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Yesterday
this is exactly what I needed
carston
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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