Answer to Question #86768 in Microeconomics for Rejoice Myeza

Question #86768
graphically explain the impact of deadly labour unrest on the market for steel
1
Expert's answer
2019-03-22T10:22:01-0400

The deadly labour unrest will create a decrease in labor supply, increase in production costs and as a result a decrease in supply of steel (leftward shift of the supply curve). So, the equilibrium price of steel will increase and the equilibrium quantity produced will decrease.


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