Assumed to be competitive and initially in equilibrium

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Please show how labor markets (assumed to be competitive and initially in equilibrium) are affected by the following changes. Clearly explain your reasoning.

a. Labor market for math and science teachers. Wages available in private industries utilizing these skills rise.

b. Labor market for university professors. College enrollments expand.

c. Labor market for low-skilled workers. The 1996 federal welfare legislation requires that a much larger fraction of welfare recipients work than in the past.

d. Labor market for workers who completed high school only. The workplace becomes more computerized and technically sophisticated.

e. Labor market for workers who completed college or more. The workplace becomes more computerized and technically sophisticated.

Reference no: EM131246077

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