-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. In the market for high-skilled labor, the equilibrium wage rate is
A) $6.
B) $4.
C) $14.
D) $10.

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. In the market for high-skilled labor, the equilibrium wage rate is
A) $6. 
B) $4. 
C) $14. 
D) $10.

Quizplus · Accepted Answer

The equilibrium wage rate is the point where the demand and supply curves intersect. In the market for high-skilled labor, the demand curve is D_H and the supply curve is S_H. The equilibrium wage rate is $14, which is the point where D_H and S_H intersect.

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