The critical time is a politent of social workers.
The equilibrium wage falls and the equilibrium quantity of labor rises
The question doesn't provide any curve, because that's impossible on Answers.com. However it's easy to determine the equilibrium wage in a perfectly competitive market by equating the market demand for labour with the market supply of labour.
In economics, the equilibrium wage is the wage rate that produces neither an access supply of workers nor an excess demand for workers and labor ...en.wikipedia.org/wiki/Equilibrium_wage
When the wage rate paid to labour is below equilibrium wage, then labour is undersupplied. As firms require more labour to maximise their profit, they will slowly raise their wage rate (because revenue from labour > costs) until the equilibrium level is achieved (since no more profit is achieveable at this level).
Wage goes down.
The equilibrium wage falls and the equilibrium quantity of labor rises
The question doesn't provide any curve, because that's impossible on Answers.com. However it's easy to determine the equilibrium wage in a perfectly competitive market by equating the market demand for labour with the market supply of labour.
By the changing the angles of forces, the system of the forces will be in equilibrium.
In economics, the equilibrium wage is the wage rate that produces neither an access supply of workers nor an excess demand for workers and labor ...en.wikipedia.org/wiki/Equilibrium_wage
Hydrostatic and Equilibrium
Wage goes down.
Wage goes down.
When the wage rate paid to labour is below equilibrium wage, then labour is undersupplied. As firms require more labour to maximise their profit, they will slowly raise their wage rate (because revenue from labour > costs) until the equilibrium level is achieved (since no more profit is achieveable at this level).
Wage goes down.
Wage goes down.
Wage goes down.
an extra demand for workers