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From course:

Economics A Level (DONEEEEEEE)

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Question:

Why can Skilled Jobs greatly Affect the Elasticity of Labour Supplied?

Author: eric_galvao



Answer:

-The Supply Curve for Doctors, Bankers and Pilots are more Inelastic - Definitely in the Short Run -If there was a Shortage in Doctors in Britain, Raising the Wage will not be Enough to Raise Supply in the Short Term as it takes Years for a Trained Suitable Doctor. Increasing the Wage Rate would be more Effective in the Long Run


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