The following figure shows labor supply and demand curves.

-Refer to the figure above.What is the appropriate label for the x-axis?

Question

The following figure shows labor supply and demand curves.
 
-Refer to the figure above.What is the appropriate label for the x-axis?

Quizplus · Accepted Answer

The x-axis represents the quantity of labor, as measured by the number of workers or hours worked. This is shown on the graph as the range from 0 to 100. The wage rate, which is represented by the y-axis, varies based on the quantity of labor supplied and demanded at any given point. The other choices (labor demanded and labor supplied) are not appropriate labels for the x-axis, as they represent only one part of the overall labor market.

The Following Figure Shows Labor Supply and Demand Curves