Using the perfectly competitive labor demand and labor, Ask an Expert

Economics

Using the perfectly competitive labor demand and labor supply model, what would happen, all else equal, to the real wage and the number of workers in each of the cases below:

A. There is an increase in the amount of physical capital as a result of positive net investment in the economy.

B. In a particular occupation, workplace safety regulations are effective in lowering the rate of workplace accidents and injuries.

C. In a particular occupation, the good that workers are producing is not as popular as it once was, leading to the decrease in the price of the good that workers help produce.

D. Social Security retirement benefits are cut and the retirement age is increased.

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Macroeconomics, Economics

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