sansan297 sansan297
  • 18-09-2021
  • Business
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how are wages determined in a free market?

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latkathlyn
latkathlyn latkathlyn
  • 18-09-2021

Answer:

Classical economists argue that wages—the price of labor—are determined (like all prices) by supply and demand. They call this the market theory of wage determination. ... Long story short: the price of labor is determined in the free market just like every other price, by the intersection of supply and demand.

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