Describe How Each of the Following Changes Would Affect the Equilibrium

question 44

Essay

Describe how each of the following changes would affect the equilibrium in the labor market in terms of the level of the real wage and quantity of employment in equilibrium:
(a)Increased immigration leads to higher labor supply at each real wage
(b)The effort curve makes a parallel shift upward
(c)Labor productivity increases (that is,the marginal product of labor increases at each level of employment).

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Definitions:

Diameters

Measurements of length through the center of a body or object from one side to the other, indicating its size in a specific direction.

Innervation

The supply of nerves to a specific body part, essential for initiating and controlling its function.

Motor Neurons

Nerve cells that transmit impulses from the central nervous system to muscles or glands, eliciting a response.

Skeletal Muscle

A type of muscle tissue that is attached to bones and enables voluntary movements of the body parts.