Use the following to answer question(s): Labor Market

-(Exhibit: Labor Market) Given competitive market demand curve D and union members supply curve S, a successful education and training campaign sponsored by the union is likely to generate a wage of _______ and a labor quantity of _______ .

Question

Use the following to answer question(s): Labor Market
 
-(Exhibit: Labor Market) Given competitive market demand curve D and union members supply curve S, a successful education and training campaign sponsored by the union is likely to generate a wage of _______ and a labor quantity of _______ .

Quizplus · Accepted Answer

A successful education and training campaign sponsored by the union will shift the supply curve to the right, from S to S'. This will lead to a higher wage, W', and a higher quantity of labor, Q'.

Use the Following to Answer Question(s): Labor Market