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Assume That This Graph Illustrates a Perfectly Competitive Labor Market

Question 27

Multiple Choice

Assume that this graph illustrates a perfectly competitive labor market. Assume that this graph illustrates a perfectly competitive labor market. Equilibrium in this labor market is at a wage of ______ per hour and an employment level of ______ person-hours per day. A) $30; 100 B) $30; 150 C) $20; 200 D) $20; 125 Equilibrium in this labor market is at a wage of ______ per hour and an employment level of ______ person-hours per day.


A) $30; 100
B) $30; 150
C) $20; 200
D) $20; 125

Correct Answer:

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