Figure 8.2-Apple Production
-In Figure 8.2,the equilibrium wage rate is ____ and the number of workers employed is ____.

Question

Figure 8.2-Apple Production 
-In Figure 8.2,the equilibrium wage rate is ____ and the number of workers employed is ____.

Quizplus · Accepted Answer

In Figure 8.2, the equilibrium wage rate is W₁, which corresponds to a wage rate of $10 per hour. At this wage rate, the number of workers employed is 1350, which corresponds to point E, where the labor supply curve () intersects the labor demand curve (_{). Therefore, choice B, which corresponds to W₁ and 1350, is the correct answer.}