Assume good Z is produced in a competitive output market that is in long-run equilibrium. In the short run, the variable input is unskilled labor whose wage is determined in a competitive labor market. Suppose there is an increase in consumer demand for good Z. Which of the following explains the resulting change in the labor market for unskilled workers in the short run?
The price of good Z increases and the labor demand curve shifts to the right along the existing labor supply curve, resulting in higher wages and employment of unskilled workers

The price of good Z increases and the labor demand curve shifts to the right along the existing labor supply curve, resulting in higher wages and employment of unskilled workers.

The labor demand for hard work is an economics principle derived from the call for for a company's output. that is, if call for a firm's output will increase, the firm will call for more exertion, therefore hiring extra staff. call for for labor is a derived demand. this indicates it relies upon on demand for the product the employee is producing. The demand for labor will even depend upon labor productivity, the rate of the coolest and their universal profitability to a firm.

The demand and supply of exertions are decided within the hard work marketplace. The contributors in the hard work market are people and corporations. people deliver labor to companies in trade for wages. corporations call for exertions from employees in alternative for wages.

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