The table below shows the labour demand and labour supply schedules in a competitive labour market.
TABLE 14-1
-Refer to Table 14-1.In this labour market,if the wage rate is $10 per hour,how many hours of labour per month are actually employed?

Question

The table below shows the labour demand and labour supply schedules in a competitive labour market.
  TABLE 14-1
-Refer to Table 14-1.In this labour market,if the wage rate is $10 per hour,how many hours of labour per month are actually employed?

Quizplus · Accepted Answer

At a wage rate of $10 per hour, the quantity of labour demanded is 500 hours per month.

The Table Below Shows the Labour Demand and Labour Supply