Use Figure: Minimum Wage and Job Loss II. At the competitive equilibrium, the quantity of labor demanded is _____, and the quantity of labor supplied is:

Minimum Wage and Job Loss II

A) 1,000; 1,200.
B) 1,200; 1,000.
C) 1,000; 1,000.
D) 900; 900.

Question

Use Figure: Minimum Wage and Job Loss II. At the competitive equilibrium, the quantity of labor demanded is _____, and the quantity of labor supplied is:
​
Minimum Wage and Job Loss II

A) 1,000; 1,200. 
B) 1,200; 1,000. 
C) 1,000; 1,000. 
D) 900; 900.

Quizplus · Accepted Answer

The Answer of Use Figure: Minimum Wage and Job Loss II. At the competitive equilibrium, the quantity of labor demanded is _____, and the quantity of labor supplied is:
​
Minimum Wage and Job Loss II

A) 1,000; 1,200. 
B) 1,200; 1,000. 
C) 1,000; 1,000. 
D) 900; 900.