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The graph below illustrates labour demand and labour supply curves. If there is a shift of labour supply curve from S1 to S2, what would
The graph below illustrates labour demand and labour supply curves. If there is a shift of labour supply curve from S1 to S2, what would happen to the new labour market equilibrium? a. Wage at equilibrium is W1. b. Marginal product of labour is W2. c. Value of the marginal product of labour is W2. d. The opportunity cost of leisure to workers is W1
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