Suppose the labor market for industrial workers is in equilibrium.What will happen to the equilibrium wage and employment level if:
a)the demand for industrial workers increases,everything else remaining unchanged?
b)the supply of industrial worker decreases,everything else remaining unchanged?
Illustrate the change in equilibrium in both cases with the help of suitable diagrams.

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The Answer of Suppose the labor market for industrial workers is in equilibrium.What will happen to the equilibrium wage and employment level if:
a)the demand for industrial workers increases,everything else remaining unchanged?
b)the supply of industrial worker decreases,everything else remaining unchanged?
Illustrate the change in equilibrium in both cases with the help of suitable diagrams.

Suppose the Labor Market for Industrial Workers Is in Equilibrium