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Figure 18-4 -Refer to Figure 18-4.If the Relevant Labor Demand Curve Is

Question 200

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Figure 18-4
Figure 18-4 -Refer to Figure 18-4.If the relevant labor demand curve is D₂ and the current wage is W₁, A) there is a surplus of labor. B) there is a shortage of labor. C) the quantity of labor supplied exceeds the quantity of labor demanded. D) workers are failing to take into account the work-leisure tradeoff in deciding what quantity of labor to supply at alternative wages.
-Refer to Figure 18-4.If the relevant labor demand curve is D₂ and the current wage is W₁,


A) there is a surplus of labor.
B) there is a shortage of labor.
C) the quantity of labor supplied exceeds the quantity of labor demanded.
D) workers are failing to take into account the work-leisure tradeoff in deciding what quantity of labor to supply at alternative wages.

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