Use the following to answer question(s): Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market

-(Exhibit: Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market) If the price (wage) of bricklayers is $100 per day, _______ bricklayers will be hired.
A) 4
B) 5
C) 6
D) There is insufficient information to make this decision.

Question

Use the following to answer question(s): Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market
 
-(Exhibit: Demand and Supply of Bricklayers in a Perfectly Competitive Labor Market) If the price (wage) of bricklayers is $100 per day, _______ bricklayers will be hired.
A) 4 
B) 5 
C) 6 
D) There is insufficient information to make this decision.

Quizplus · Accepted Answer

At a wage rate of $100 per day, the number of bricklayers that will be hired is the point where the quantity demanded (6) equals the quantity supplied (6). Therefore, the answer is C.

Use the Following to Answer Question(s): Demand and Supply of Bricklayers