Figure 19-5
-Refer to Figure 19-5. Given demand for labor, D₁, and supply of labor, S₁, what are the equilibrium wage and quantity of labor?

Question

Figure 19-5 -Refer to Figure 19-5. Given demand for labor, D₁, and supply of labor, S₁, what are the equilibrium wage and quantity of labor? A)$6 and 200 B)$7 and 250 C)$5 and 150 D)$8 and 100

Quizplus · Accepted Answer

The equilibrium wage and quantity of labor occur where the demand for labor (D1) intersects the supply of labor (S1). According to the given options, $6 and 200 is the correct intersection point.

Figure 19-5 -Refer to Figure 19-5. Given Demand for Labor, D1, and Labor

Figure 19-5 -Refer to Figure 19-5. Given Demand for Labor, D₁, and Labor