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The Table Below Shows the Labour Demand and Labour Supply

Question 18

Multiple Choice

The table below shows the labour demand and labour supply schedules in a competitive labour market.  Wage Rate  ($/hour)   Quantity  Demanded  of Labour  (hours/month)   Quantity Supplied  of Labour  (hours/month)  1013005001210001000148001300154001500172001800\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Wage Rate } \\\text { (\$/hour) }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Demanded } \\\text { of Labour } \\\text { (hours/month) }\end{array} & \begin{array} { c } \text { Quantity Supplied } \\\text { of Labour } \\\text { (hours/month) }\end{array} \\\hline 10 & 1300 & 500 \\\hline 12 & 1000 & 1000 \\\hline 14 & 800 & 1300 \\\hline 15 & 400 & 1500 \\\hline 17 & 200 & 1800 \\\hline\end{array} TABLE 14- 1
-Investment in human capital can be very costly to the individual,but it can also generate large returns.Canadian census data from 2007 show that average employment income for a university graduate is approximately of the average employment income of a worker with no more than a high school diploma.


A) 400%
B) 50%
C) 300%
D) 125%
E) 200%

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