Use a demand/supply model to represent a perfectly competitive labour market for engineers. a Under what circumstances would changes in labour demand have no effect on equilibrium wages for engineers?...

Use a demand/supply model to represent a perfectly competitive labour market for engineers. a Under what circumstances would changes in labour demand have no effect on equilibrium wages for engineers? What does this imply about entry to and exit from this occupation? b Suppose that there is an increase in the number of years of education required to qualify as an engineer. How would you represent this in the demand/supply model? What will be the effect on equilibrium wages for engineers? c Suppose that changes to the location of mining activities mean that engineers now work in locations that are less remote. How would you represent this in the demand/supply model? What will be the effect on equilibrium wages for engineers?



May 26, 2022
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