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QUESTION
Suppose that the market for autoworkers is initially in equilibrium, but then the automakers purchase capital goods that are a substitute for
Suppose that the market for autoworkers is initially in equilibrium, but then the automakers purchase capital goods that are a substitute for workers. What happens to the market for autoworkers? Explain. Now, suppose that the automakers improve working conditions at the plants. What are the effects? Explain.
