3 ms·
If no one wants to do a job at X price, it is then by definition a shortage. Neoclassical economics suggest moving up the price ladder. But as a comment above
by chewxy 14y ago
If no one wants to do a job at X price, it is then by definition a shortage.
Neoclassical economics suggest moving up the price ladder. But as a comment above mentioned, STEM job supplies are quite inelastic. In fact we should expect it to be inelastic, since STEM jobs require more expertise than say general labour.
- deleted 14y ago[deleted]
- 001sky 14y agono one != not one more there are other options any fixed price x(i): no trade (not one), and equilibrium (no more). If X is floating, the question is different. Then its a question of why X wages are not enough. Its also a question of why the jobs are not made better (not everything is price related, the firm is a hierarchy...). etc.