-In the figure above, the demand and supply of high-skilled workers has an H subscript and the demand and supply of low-skilled workers as an L subscript. The quantity of high-skilled labor employed is
A) 2,000 hours per day.
B) 4,000 hours per day.
C) 5,000 hours per day.
D) 6,000 hours per day.

Question

-In the figure above, the demand and supply of high-skilled workers has an H subscript and the demand and supply of low-skilled workers as an L subscript. The quantity of high-skilled labor employed is
A) 2,000 hours per day. 
B) 4,000 hours per day. 
C) 5,000 hours per day. 
D) 6,000 hours per day.

Quizplus · Accepted Answer

The correct choice is based on the intersection point of the demand and supply curves for high-skilled workers, which indicates the equilibrium quantity of labor employed.

-In the Figure Above, the Demand and Supply of High-Skilled