In the following graph, S and D represent the supply and demand curves respectively, in the labour market. Refer to the graph to answer the question. When the wage in the market is set at £7:
A) there is a surplus of 100 workers.
B) there is a shortage of 150 workers.
C) there is a surplus of 200 workers.
D) there is a shortage of 275 workers.

Question

In the following graph, S and D represent the supply and demand curves respectively, in the labour market. Refer to the graph to answer the question.  When the wage in the market is set at £7:
A) there is a surplus of 100 workers. 
B) there is a shortage of 150 workers. 
C) there is a surplus of 200 workers. 
D) there is a shortage of 275 workers.

Quizplus · Accepted Answer

The Answer of In the following graph, S and D represent the supply and demand curves respectively, in the labour market. Refer to the graph to answer the question.  When the wage in the market is set at £7:
A) there is a surplus of 100 workers. 
B) there is a shortage of 150 workers. 
C) there is a surplus of 200 workers. 
D) there is a shortage of 275 workers.

In the Following Graph, S and D Represent the Supply