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Kitty [74]
3 years ago
10

How are wage set in a labor market

Spanish
1 answer:
7nadin3 [17]3 years ago
8 0

Answer:

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.

Explanation:

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