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graphically explain the effects of an increase in non-labour income to labour supply.
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- Do each of the following shift labor demand or labor supply? An increase in the labor force? an increase in labor production?Explain why the marginal product of labour equals the competitive wage when there is equilibrium in a single competitive labour market?By means of a diagram ,explain what is meant by labour market clearing? Why is labour market clearing not observed in real world labour market?
- What accounts for the backward bending Labour supply curve?Several external influences impact the labour relationship. Discuss the following of these influences: The economic dispensation The influence of trade unionswhat are the factors that will lead to an increase in demand for workers in an economy?
- Describe any five important differences between labour market and the goods marketIf there is an increase in productivity or an increase in the demand for the final product, what is the impact in the labour market? The labour demand curve will shift left. The labour supply curve will shift left. The labour supply curve will shift right. The labour demand curve will shift right.Equilibrium in the labour market depends on the demand for labour and the supply of labour. Graphically demonstrate how the supply of labour in the U.S. is affected by the increase in the labour force resulting from Mexican immigrants. What other factors that can cause the labour supply curve to shift?
