identify which way the labor supply curve would shift under the following scenarios. a. a country experiences a huge influx of immigrants who are skilled in the textile industry. multiple choice 1 right no shift. movement along the labor supply curve. left b. wages increase in an industry that requires similar job skills.

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01-12-2022
Business

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identify which way the labor supply curve would shift under the following scenarios. a. a country experiences a huge influx of immigrants who are skilled in the textile industry. multiple choice 1 right no shift. movement along the labor supply curve. left b. wages increase in an industry that requires similar job skills.

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Qwballon Qwballon · Answer 1 · 2022-12-05T10:08:34-05:00

The labor supply curve would shift towards the left curve. ( Option b )

- The labor supply curve shows how many hours employees would be willing to work for various pay rates. Employees will typically be more willing to put in longer hours when their pay is higher. The labor supply curve moves to the right as the labor supply grows.

- It demonstrates the connection between labor supply and wage rates. Examples of labor supply curves include the market labor supply curve and the individual labor supply curve.

- According to widely accepted economic theories, the labor supply is the total number of hours (adjusted for effort intensity) that employees would like to work at a specific real wage rate.

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