Question

Justify the following statement with 8 sentences: There is a market for MBAs. An economic recession...

Justify the following statement with 8 sentences:

There is a market for MBAs. An economic recession (fall in national income) will influence the demand and supply of new hire. A relative productivity of MBA versus BA/BS job candidates will shift the demand. Justify.

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Answer #1

When the National income falls,there would be less hiring and demand for new labor as the company would be unable to make profits by hiring more and the BA/BS candidates would get less job offers so there would be a leftward shift in the demand curve whereas the supply curve for the MBA would shift to the right.

The productivity of MBA versus BA/BS would increase the demand for the MBA candidates and an increase in the relative productivity of MBA candidates would increase demand for them at each price level.

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