The equilibrium quantity of labor increases and the equilibrium wage decreases when: labor demand shifts to the left, if wages are flexible. labor supply shifts to the left, if wages are flexible. labor demand shifts to the right, if wages are flexible. labor supply shifts to the right, if wages are flexible,

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31-10-2017
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The equilibrium quantity of labor increases and the equilibrium wage decreases when: labor demand shifts to the left, if wages are flexible. labor supply shifts to the left, if wages are flexible. labor demand shifts to the right, if wages are flexible. labor supply shifts to the right, if wages are flexible,

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W0lf93 W0lf93 · Answer 1 · 2017-11-11T19:56:03+01:00

The equilibrium of labor is dependent upon how the demand for labor and wages shifts. If the demand shifts to the left and wages are flexible, then the quantity of labor increases and wages decreases. If labor supply shifts to the left and wages are flexible, labor quantity will again increase and wages will decrease. The same will occur when labor demand and labor supply shifts to the right, again, assuming that wages remain flexible.