Explain How the Following Would Affect the Equilibrium Wage and Quantity

question 21

Essay

Explain how the following would affect the equilibrium wage and quantity of labor in the labor market.
a. A decrease in the price of the output made by labor
b. An increase in legal immigration
c. An increase in the amount of capital used by firms

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Definitions:

Organizing Campaigns

Initiatives typically conducted by labor unions to gain representation rights within a workplace or to mobilize workers around specific issues.

Unionization

The process by which employees come together to form a union, a collective organization that negotiates with employers on behalf of its members for better wages, benefits, and working conditions.

Labour Relations Board

A governmental agency that manages disputes and issues related to labor laws and collective bargaining agreements.

Membership Support

Assistance and services provided to members of an organization, club, or online platform, often including access to exclusive resources, helpdesks, and community features.