Answer:
a wage at which the number of people willing to work equals the number of workers firms are willing to hire
Explanation:
Labor market equilibrium is where the demand curve for labour interests the supply curve for labour. At this point, the wage rate is the wage at which the number of people willing to work equals the number of workers firms are willing to hire
Please check the attached image for a graph depicting equilibrium in the labour market
Answer:
b. increase as the demand for high tech skills increases.
Explanation:
Due to the fact that the demand for technological products is increasing, the demand for people who possess high tech skills would also increase as firms would want to provide more tech products to satisfy the demand of consumers.
This would lead to an increase the demand for people with high tech skills. When demand exceeds supply, wages would rise.
I hope my answer helps you
The answer in the space provided is concurrent engineering.
It is because concurrent engineering is the one responsible of having to lead
improvement in regards of the organization or company’s reduced cost or its
productivity in which is helpful and could brought it for their own benefit.