EC102Chapter8Notes - price of output drops Due to...

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Quantity Supplied of Labor Depends upon: Wage rate (income from labor) – movement along the supply curve The size of the working age population The # of people w suitable professional skills movement of supply curve The % of working-age population that is seeking a job Shifts in Labor Supply Increase in the size of unemployment Suitable professional skills Size of working-age population Labor Market Equilibrium Due to the introduction of new technology, labor productivity in this industry increases Due to greater competition in the market for these workers’ output, the unit
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Unformatted text preview: price of output drops Due to government subsidies to technical colleges, the number of workers with suitable technical skills increases. Wages flexible? What does it mean.find out VMPL curve price of output and . Labor curve = VMPL curve? Better/more technology labor productivity UP demand for labor UP Skilled workers UP demand for high skilled labor UP Outsourcing demand for low skilled labor DOWN...
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EC102Chapter8Notes - price of output drops Due to...

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