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3 The supply and demand curves for labor can shift. Use at least two different examples...

3 The supply and demand curves for labor can shift. Use at least two different examples of positive and negative shifts of the demand and supply curves and explain why these shifts occur. (20 points ) . please provide graphs to explain the answer.

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Answer #2

A shows increase in the demand for labour due to increase in price of the product.The labour demand curve shifts to the right.

B shows decrease in demand for labour due to capital becoming relatively cheap.The demand for labor curve shifts to the left.

C.The figure on the left shows increase in supply of labour due to increase in immigration.The supply curve of labour shifts to the right.

The figure on the right shows decrease in supply of labour due to decrease in population.The supply curve of labour shifts to the left.

Please leave a comment in case of a query.

answered by: anonymous
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