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CBSE Class 12-commerce Answered

How do the equilibrium wage rate is determined in a market?
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
answered-by-expert Expert Answer

A point at which the upward sloping supply curve intersects the downward sloping demand curve is the equilibrium wage rate. This happens when the supply of labour from household is equal to the required number of labour in a firm.

Answered by | 26 Apr, 2016, 09:26: AM
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
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