Multiple Choice

Table 4-4
Table 4-4 shows the demand and supply schedules for the labor market in the city of Pixley.
-Refer to Table 4-4.What is the equilibrium hourly wage (W*) and the equilibrium quantity of labor (Q*) ?
A) W* = $10.50; Q* = 590,000
B) W* = $11.50; Q* = 570,000
C) W* = $9.50; Q* = 570,000
D) W* = $10.50; Q* = 1,180,000
Correct Answer:
Verified
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