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21 December, 05:04

What impact will a spike in wages cause to the

labor demand curve?

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Answers (1)
  1. 21 December, 05:45
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    When the wages of the laborers increase the cost to the company increases so the company tries reduce the in take of the labors. When the intake is reduced the demand for the labor falls down. When there is a low demand then the demand curve will shift to left in the graph.

    When the wages are low then the firms would intake many employees as labor is cheap in the market. This would increase the demand for labor and the demand curve would shift to right.
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