show and explain what would happen to the labor market. a) The firms who are employing these…

show and explain what would happen to the labor market. a) The firms who are employing these…

show and explain what would happen to the labor market.

a) The firms who are employing these workers experience a big increase in the demand for their Consider the following labor supply and demand curves. For each of the following situations, product.

Wage S

WE

D

QE Quantity

b) Intel develops a new computer chip that is capable of doing the same work as two employees. Assume that workers and computers are substitutes in Intel’s production function.

Wage

S

WE

D

QE Quantity

c) A newly elected US president issues an executive order, restricting all immigration into the US.

Wage

S

WE

D

QE Quantity

show and explain what would happen to the labor market. a) The firms who are employing these…

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