Figure 8.1-Apple Production
-In Figure 8.1,at equilibrium,the wage rate is ____ per hour and ____ workers are employed.

Question

Figure 8.1-Apple Production 
-In Figure 8.1,at equilibrium,the wage rate is ____ per hour and ____ workers are employed.

Quizplus · Accepted Answer

At equilibrium, the intersection point of the labor demand and labor supply curves, the wage rate is $16 per hour and 68 workers are employed. This is shown by the point where the demand and supply curves meet in the graph. Therefore, choice C is the correct answer.