in order for a production curve to shift out? a. there has to be more unemployment b. there has to be an increase in supply c. there has to be an increase in demand d. there has to be an increase in technology
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in order for a production curve to shift out?
a. there has to be more
b. there has to be an increase in supply
c. there has to be an increase in demand
d. there has to be an increase in technology
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- Using the knowledge of supply and demand analysis to graph the following and explain your graph: (a) an increase in labour productivity. (b) an increase in preference for work. (c) the trade union withdraws labour through a strike.What is the short runQUESTION THREE (i)Use the knowledge of economics to discuss factors to analyse factors that affect people’s’ decision to work.(ii) When is the firm operating in the short run and when does it operate in the long run? (iii) Discuss the factor(s) that determine how many workers the firm wishes to hire in the long run.
- Equilibrium in the labour market depends on the demand for labour and the supply of labour. 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. Need to explain this graph abit more.As the productivity of labor rises, so will the demand for labor. True – False: Explain(a) If WM = Wp, from what type of labor market does the firm hire its workers? (b) Assume the productivity of workers increases as a result of improvement in technology. What will happen to each of the following in the short run? The market demand for labor (ii) The wage rate the firm will pay. Explain.
- Economics Q)how changes in productivity influence the demand for labor. please explain correctltYou are given a scenario where this a change in a factor of production or a change in demand for an item. You need to explain in sentence form how this would change the demand for labor. See the example and model your answers after how the example is written.Only typed answer and please don't use chatgpt How does the market for inputs like labor differ from the market for goods and services? (Check all that apply.) Part 2 A. Firms are sellers in the market for goods and services, while individuals are sellers in the market for inputs. B. The demand for inputs is derived from the demand for final goods and services. C. Firms are buyers in the market for inputs, while individuals are buyers in the market for goods and services. D. The market for inputs resolves shortages and surpluses through government-supervised negotiations.
- You are given a scenario where this a change in a factor of production or a change in demand for an item. You need to explain in sentence form how this would change demand for labor. 1. Apple develops the iPhone and demand for it surges as people realize the benefits of this improved technology. You manufacture flip phones.(b) In a self-regulating economy “X”, labor supply is 40 million but labor demand is 10 million. What will happen in goods and service market simultaneously? Explain this situation with relevant graph. Based on your findings in a) is it denoting long run equilibrium? If not, will the economy be able to restore it? Explain with suitable graph.Only typed answer The graph shows the labor market for low-skilled labor, DL and SL, and the labor market for high-skilled labor, DH and SH. The value of marginal product of skill is ______ an hour.