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respond to this discussion Wage determination is influenced by factors like supply and demand for labor, skills required, and bargaining power of workers and employers.
respond to this discussion Wage determination is influenced by factors like supply and demand for labor, skills required, and bargaining power of workers and employers. Productivity measures how efficiently inputs are turned into outputs, impacting wages and prices. Prices are determined by supply and demand in markets, affected by factors like production costs, consumer preferences, and competition
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