FIGURE 14-2
-Refer to Figure 14-2.In a perfectly competitive labour market,the equilibrium wage rate and the quantity of labour employed would be

Question

Quizplus · Accepted Answer

In a perfectly competitive labour market, the equilibrium wage rate and the quantity of labour employed are determined by the intersection of the supply of labour curve (S1U1B0) and the demand for labour curve (D). This intersection point is at WS1U1B11S1U1B0 and QS1U1B11S1U1B0, as shown in the graph. Therefore, the correct choice is D.

FIGURE 14-2 -Refer to Figure 14-2.In a Perfectly Competitive Labour Market,the Equilibrium