-Consider the labor market depicted in the above figure. The competitive equilibrium would be for ________ hours of employment.

Name: -Consider the labor market depicted in the above figure. The competitive equilibrium would be for ________ hours of employment.
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Question

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In a competitive labor market, equilibrium is reached where the supply of labor equals the demand for labor. The figure likely shows this intersection at 400 hours of employment.

-Consider the Labor Market Depicted in the Above Figure