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According to the law of supply what's the result of an increase in the supply of workers for a job if all other factors remain equal?

2 Answers

8 votes

Answer:

The wage rate for that job will be pushed down.

Explanation: I just took the test and got it right

User Xuri
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4 votes

Answer:

According to the law of supply, an increase in the supply of workers for a job if all other factors remain equal means the company wants to be efficient and it is also proof that the company is making more profit which signals the demand for the commodities they produced as increased drastically.

Step-by-step explanation:

The law of supply work in the dimension of price, the number of goods available in the market, and it is hugely affected by demand. Now, when the price of goods decreases, it makes production by producers decrease as well and staffs are also laid off to avoid profit loss by the producers. This changes when the price of commodity increases as it makes producers of the commodity have the capacity to employ more staff to maximize time and this also causes the producers to increase sales. However, the higher demand for a commodity would also increase the supply of that commodity.

User Paljenczy
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