#1. For each of the following determine the impact on the
demand or the supply of labor and the effect on the equilibrium wage and
quantity of labor employed.
a. An increase in the price of
b. A union is formed which uses collective bargaining to obtain higher wages
for its members.
c. The marginal productivity of workers rises.
d. People desire leisure more than ever before (e.g. it is Christmas Day).
e. The wages offered in other labor markets requiring similar skills are now
offering substantially higher wages.
f. The fringe (non-monetary) benefits offered in this market have increased
g. The government has just adopted an "open-door' immigration policy?
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