Suppose the graphs represent a labor market, where price is the wage rate. Which graph best shows the impact of a technological change that makes those workers unnecessary for production?
Answer
Option graph b
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The technological change decreases the demand for workers and the dee curve shifts to the left which decreases both wage and employment in the new equilibrium.
Demand increases when there is an increase in labor demand
Supply changes when labor preference or a number of labor and so changes.
Suppose the graphs represent a labor market, where price is the wage rate. Which graph best...
Suppose the graph represents the labor market. Lineshows the relationship between the wage and the n f people willing to work. Line the re ip between the wage and the A f shows people firms wish to hire. Quantity (workers) The demand curve for labor exhibits relationship between wage and quantity of workers a direct or positive demanded, and the supply curve of le relationship between wage and the quantity of an inverse people willing to work. an inverse or...
4. Minimum wage legislation The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. In this market, the equilibrium hourly wage is and the equilibrium quantity of laboris...
4. Minimum wage legislation The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Labor in the Fast Food Industry 20 18 16...
4. Minimum wage legislation The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City Use the graph input tool to help you answer the fallowing questions. You will not be graded on any changes you make to this graph Note: Once you entera value in a white field, the graph and any corresponding amounts in each grey ficld w change accordingly. Graph Input Tool Market for Labor in the Fast Food Industry...
4. Minimum wage legislation The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Labor in the Fast Food...
4. Minimum wage legislation The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Labor in the Fast Food...
4. Minimum wage legislation The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. In this market, the equilibrium hourly wage is _______ , and the equilibrium...
4. Minimum wage legisiation The following graph shows the labor market in the fast-food industry in the fictional town of Supersize aty. Use the graph input tool to help you answer the folowing questions You will not be gradest on aty changes you make to ths graph aph and any corresponding amounts in each grey field wil change accordinghy Note: Once you enter a value in a white field, the g Graph Input Tool Market for Labor in the Fast...
The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City.Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.In this market, the equilibrium hourly wage is___, and the equilibrium quantity of labor is___ thousand workers.Suppose...
The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Labor in the Fast Food Industry Wage (Dollars per...