What happens in market for autoworkers

Reference no: EM13176731

in a labor market a higher wage tends to attract workers away from other industries and to cause persons preparing to enter the labor force to get appropriate education and training for the higher wage occupation and the quantity of labor supplied increases over time.

Suppose the market for autoworkers is in equilibrium when the automakers purchase capital goods to produce more fuel efficient automobiles and these capital goods are a substitute for workers. What happens in market for autoworkers?

Reference no: EM13176731

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