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Assume that the number of workers who can enter the country legally to do seasonal work has been cut in half. Due to a change in the labor supply curve, wages in the affected industries are likely to rise.
A labor supply curve: what is it?
In the study of economics, the labor supply and demand curves are fundamental ideas. When it comes to labor, supply refers to the number of workers on the market, and demand refers to the number of workers that a specific business, sector of the economy, or all of it wants to hire.
Employers are the demand, whereas employees are the supply. Graphs of the labor market's supply and demand at various wage levels are shown by the labor supply and demand curves. Understanding the labor market, or the supply and demand for labor requires an understanding of these two curves and how they interact.
Learn more about the labor supply curve with the help of the given link:
brainly.com/question/14115009
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