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How is the wage rate determined through the forces of demand and supply of labor?
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How is the wage rate determined through the forces of demand and supply of labor?
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Jun 26, 2024
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How is the wage rate determined through the forces of demand and supply of labor?
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Matt Greer
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Answer:
Just as in any market, the price of labor, the wage rate, is determined by the intersection of supply and demand.
Zeel B Patel
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Jun 30, 2024
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Zeel B Patel
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