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If the labor demand curve shifts to the left and the labor supply curve remains unchanged, what...

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If the labor demand curve shifts to the left and the labor supply curve remains unchanged, what will happen to the equilibrium wage and the equilibrium level of employment?

Labor Markets:

In economic theory, a labor market is characterized by a demand for labor from firms and the supply of labor from workers. At the equilibrium point, there is neither surplus nor shortage of labor.

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If the labor demand curve shifts to the left, the demand in the market for labor has decreased. The demand curve now meets the supply curve at a lower...

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Labor Market: Definition & Theory

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Chapter 3 / Lesson 41
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Learn the labor market definition and what happens in the labor market. See what the split labor market theory is and learn the different types of labor market.


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