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Table 4-4 Table 4-4 Shows the Demand and Supply Schedules

Question 119

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Table 4-4
Table 4-4 Table 4-4 shows the demand and supply schedules for the low-skilled labor market in the city of Westover. -Refer to Table 4-4.Suppose that the quantity of labor demanded decreases by 40,000 at each wage level.What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor? A) W = $10.00; Q = 390,000 B) W = $9.50; Q = 380,000 C) W = $8.50; Q = 340,000 D) W = $8.00; Q = 350,000 Table 4-4 shows the demand and supply schedules for the low-skilled labor market in the city of Westover.
-Refer to Table 4-4.Suppose that the quantity of labor demanded decreases by 40,000 at each wage level.What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?


A) W = $10.00; Q = 390,000
B) W = $9.50; Q = 380,000
C) W = $8.50; Q = 340,000
D) W = $8.00; Q = 350,000

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