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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Name some factors that can cause a shift in the demand curve in labor markets.

To determine

Name some factors that can cause shift in the demand curve in labor markets.

Explanation

Labor market is the market where firms and labors interact and exchange happens. Firms are hiring labors for their services and labors are getting wages in return.

Demand curve of labor shows the relationship between wages and quantity of labor demanded. Shift in demand curve happen due to other factors except wages. These are

  1. Demand for the goods which labors are producing.
  2. If workers get better education and training...

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