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- What is equilibrium in the labour market? a. Graphically demonstrate how the supply of labour in the U.S. is affected by the increase in the labour force resulting from Mexican immigrants. b.What other factors that can cause the labour supply curve to shift?how does current independent contracting affect the future of the labor market?Discuss the available tools to address labour shortage issues in th uk
- In the context of a perfectly competitive model of the labour market, an increase in technologythat raises the marginal product of labour at any given level of employment would be expected, inequilibrium, toa) reduce the amount of labour required to produce a given amount of output and hence increaseunemployment.b) shift the labour demand curve outwards and lead to an increase in employment and wages.c) have no effect upon labour supply or labour demand curves and hence have no impact onemployment or wages.d) reduce the supply of labour to the market and result in an increase in wages but a fall inemployment Why the correct answer is B?how will each of the following scenario impact the market for labour. workers become more concerned about the future and terefore wish to increase their hours of work, at the same time there is an increase in capital stock which makes workers more productive.How each of the following situations will affect labour demand, i.e. if it will cause amovement along the labour demand curve or a shift (state left or right) in the labour demandcurve. i) An increase in the minimum wage. ii) An increase in the efficiency of labour. iii)
- How each of the following situations will affect labour demand, i.e. if it will cause amovement along the labour demand curve or a shift (state left or right) in the labour demandcurve. i) A decrease in the price of capital where labour and capital are substitutes. ii)Give two examples of events that could shift thedemand for labor, and explain why they do so