"The major factor in the trade-off between wages and employment is the output effect. An increase in the wage increases the product price and decreases the firms output, so the firm hires fewer workers. When will the output effect be relatively large?
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Details
- Publication Date
- Apr 30, 2013
- Language
- English
- Category
- Education & Language
- Copyright
- All Rights Reserved - Standard Copyright License
- Contributors
- By (author): Homework Help Classof1
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- Format