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The prevailing wage necessarily goes down when the labor supply is increased. This is literally learned on Day 1 of Introduction to Microeconomics.
by imjustsaying 12y ago
The prevailing wage necessarily goes down when the labor supply is increased. This is literally learned on Day 1 of Introduction to Microeconomics.
- innguest 12y agoOn what day of class do they prove that "Microeconomics" is a Science? Would you care to demonstrate that? I'm just asking because you're making an appeal to something in that argument, and I'm curious if you're appealing to a serious scientific field of study, or something passing for one. Karl Popper said falsifiability is an essential feature of any scientific theory, so it's not weird to ask for a falsifiable statement from "Microeconomics" so that we can tell whether it's a scientific theory. Mind you, I don't disagree with your conclusion that prevailing wages go down when labor supply is increased. What I am asking is whether "Microeconomics" is a science.
- rb2k_ 12y agoThey are talking about a free market. This is heavily government regulated.