Refer to the information provided in Figure 28.1 below to answer the question(s) that follow. Figure 28.1
-Refer to Figure 28.1. At a wage rate of $________, there is a surplus of labor equal to ________ million people.

Question

Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.  Figure 28.1
-Refer to Figure 28.1. At a wage rate of $________, there is a surplus of labor equal to ________ million people.

Quizplus · Accepted Answer

At a wage rate of $15, the quantity of labor supplied exceeds the quantity of labor demanded, resulting in a surplus of 120 million people.

Refer to the Information Provided in Figure 28