The figure given below shows the demand curves (D₁ and D₂) and supply curves (S₁ and S₂) of labor in the labor market. Figure: 15.2
- According to Figure 15.2,assume that the market is in an initial equilibrium in which the labor supply is S₁ and the labor demand is D₁.Then labor supply shifts from S₁ to S₂but the wage remains at its previous equilibrium level.Which of the following is true?

Question

The figure given below shows the demand curves (D₁ and D₂) and supply curves (S₁ and S₂) of labor in the labor market. Figure: 15.2

The figure given below shows the demand curves (D<sub>1</sub> and D<sub>2</sub>) and supply curves (S<sub>1</sub> and S<sub>2</sub>) of labor in the labor market. Figure: 15.2 - According to Figure 15.2,assume that the market is in an initial equilibrium in which the labor supply is S<sub>1</sub> and the labor demand is D<sub>1</sub>.Then labor supply shifts from S<sub>1</sub> to S<sub>2 </sub>but the wage remains at its previous equilibrium level.Which of the following is true? A) The economy is still in equilibrium. B) There is a shortage of 20 workers. C) There is a shortage of 30 workers. D) There is a surplus of 30 workers. E) There is a surplus of 20 workers.

- According to Figure 15.2,assume that the market is in an initial equilibrium in which the labor supply is S₁ and the labor demand is D₁.Then labor supply shifts from S₁ to S₂but the wage remains at its previous equilibrium level.Which of the following is true?

Quizplus · Accepted Answer

The Answer of The figure given below shows the demand curves (D 1 and D 2 ) and supply curves (S 1 and S 2 ) of labor in the labor market. Figure: 15.2 - According to Figure 15.2,assume that the market is in an initial equilibrium in which the labor supply is S₁ and the labor demand is D₁.Then labor supply shifts from S₁ to S₂but the wage remains at its previous equilibrium level.Which of the following is true?

The Figure Given Below Shows the Demand Curves (D1 and D2)

The Figure Given Below Shows the Demand Curves (D₁ and D₂)