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12 December, 08:58

A reduction in the supply of labor will cause wages to

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  1. 12 December, 09:44
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    The correct answer is "increase and employment to increase." A reduction in the supply of labor will cause wages to increase and employment to increase. If the demand for labor remains constant wages will increase.

    As the labor supply is reduced, companies will compete to hire workers for the highest price, thus increasing both wages and employment.
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