Labour supply and the 'law of demand'
The well-known "law of supply and demand" says that an increase in the price of a commodity leads to a decrease in the aggregate demand for this commodity and an increase in aggregate supply. There is, however, no theoretical foundation for this "law". Empirical evidence, on the...
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London School of Economics and Political Science (University of London)
1994
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| Online Access: | http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.645422 |