Initially purely competitive labor market in equilibrium

When this purely competitive labor market is firstly into equilibrium at D_0L, S_0L, raise in labor productivity will result within equilibrium being attained at: (w) D_0L, S_0L. (x) D_1L, S_0L. (y) D_0L, S_1L. (z) D_2L, S_2L.

2005_Labor Market Equilibria.png

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