A. Why should high unemployment be a matter of concern for business? B. (a) Explain how the supply and demand curves of labour are derived in the standard model. Comment on the realism of the model’s...

B. (a) Explain how the supply and demand curves of labour are derived in the standard model. Comment on the realism of the model’s assumptions relating to the labour market.

(b) Show how technological progress might affect the labour market in this model.