The diagram shows a market for labour. $$$X$$$ is the original equilibrium. A trade union negotiates a minimum wage at $$$\mathrm{W}$$$, and the government restricts the supply of immigrant labour. What is the new equilibrium?

Economics

IGCSE&ALevel

CAIE

Exam No：0455_s21_qp_12 Year：2021 Question No：11

Answer:

Knowledge points:

3.4.3 the advantages and disadvantages of trade union activity (Factors influencing the strength of trade unions. From the viewpoint of workers, firms and the government. )

Solution:

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The diagram shows a market for labour. $$\(X\)$$ is the original equilibrium. A trade union negotiates a minimum wage at $$\(\mathrm{W}\)$$, and the government restricts the supply of immigrant labour. What is the new equilibrium?

Answer:

Knowledge points:

Solution:

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