Use the following to answer questions:
-(Figure: The Labor Market) Use Figure: The Labor Market. The equilibrium wage rate is:
A) $16.
B) $15.
C) $14.
D) $17.

Name: Use the following to answer questions: -(Figure: The Labor Market) Use Figure: The Labor Market. The equilibrium wage rate is: A) $16. B) $15. C) $14. D) $17.
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Question

Use the following to answer questions: 
-(Figure: The Labor Market) Use Figure: The Labor Market. The equilibrium wage rate is:
A) $16. 
B) $15. 
C) $14. 
D) $17.

Quizplus · Accepted Answer

The equilibrium wage rate is where the demand for labor (D) intersects with the supply of labor (S), which is at a wage rate of $15.

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