The following factors could lead to a higher Market Wage in equilibrium, EXCEPT: An increase in...

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The following factors could lead to a higher Market Wage in equilibrium, EXCEPT:

An increase in the Human Capital of the Labor Force.

A technological innovation with positive impact on MLP.

Decrease in Unemployment Benefits

An increase in the Opportunity Cost for Work.

Labor Market Equilibrium:

A labor market in an economy is the market where the workers and the firms interact with each other. A labor market in an economy functions with demand and supply of labor. In this market, labor demand is the firm's demand for labor and supply is the worker's supply of labor. The supply and demand for labor in the market are influenced by changes in the bargaining power of the workers and firms.

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A technological innovation with a positive impact on MLP.

The technological improvement that increases productivity would lead to a fall in the...

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The Labor Market in Economics

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Chapter 8 / Lesson 4
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In economics, labor is subject to the laws of supply and demand. Learn about the labor market in economics. Explore scarcity in labor, review why CEOs make more money than teachers, and examine the impact of market forces on the labor market.


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