URGENT* THE LABOUR MARKET MODEL The diagram below shows the labour market equilibrium Point X.

a. Explain why the wage-setting curve is upsloping.
b. Explain what the price-setting curve represents.

Q2 THE LABOUR MARKET MODEL The diagram below shows the labour market equilibrium Point $X$ . a. Explain why the wage-setting curve is upsloping. b. Explain what the price-setting curve represents.

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URGENT* THE LABOUR MARKET MODEL The diagram below shows the labour market equilibrium Point X.

a. Explain why the wage-setting curve is upsloping.

b. Explain what the price-setting curve represents.

Q2 THE LABOUR MARKET MODEL The diagram below shows the labour market equilibrium Point

X

. a. Explain why the wage-setting curve is upsloping. b. Explain what the price-setting curve represents.

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