In November 2024
Answer to Question #321213 in Macroeconomics for Miles
Essay about impact of labour market and labour union on supply and demand.
Just as in any market, the price of labor, the wage rate, is determined by the intersection of supply and demand. When the supply of labor increases the equilibrium price falls, and when the demand for labor increases the equilibrium price rises.
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#339914 on Dec 2023
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