We can actually infer here that an increase in labor productivity will affect equilibrium in the labor market in the following way: The demand for labor will increase and the equilibrium wage and quantity of labour will increase.
<h3>What is equilibrium?</h3>
Equilibrium refers to the state whereby opposing things are balanced in order to achieve a desired outcome.
If the labor productivity is increased, it will definitely affect equilibrium in the labor market in such a way that the demand of labor will increase.
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Explanation:
The Answer Is C. That's It
Answer: There are two possible scenarios against the decree of a Minimum Price for a good or service. In the first, if the equilibrium Price is above the Minimum Price established, then this policy will have no effect on the market. But in the second scenario, if the equilibrium Price is below the Minimum Price there will be a surplus of said good, that is, the quantity offered will be greater than the quantity demanded.
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Terms. Procedural law is the set of rules by which courts in the United States decide the outcomes of all criminal, civil, and administrative cases. Substantive law describes how people are expected to behave according to accepted social norms.
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