Suppose both product and factor markets are competitive why, Business Economics

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Suppose both product and factor markets are competitive why

(i) Suppose both product and factor markets are competitive, why is the labour demand curve downward sloping?

(ii) How does technological progress shift the labour demand curve?

(b) Professors, lawyers and doctors receive similar amounts of education, why are professors paid less than lawyers and doctors?

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Business Economics: Suppose both product and factor markets are competitive why

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Business Economics: Suppose both product and factor markets are competitive why

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