Figure 8.2-Apple Production -In Figure 8.2,at a wage of W 2 there is a:

At a wage of W 2 , the quantity of labor supplied is 2400, while the quantity of labor demanded is 3450. This creates a surplus of labor equal to 1050 workers. Therefore, the best choice is B.

Figure 8.2-Apple Production -In Figure 8.2,at a wage of W 2 there is a:

At a wage of W 2 , the quantity of labor supplied is 2400, while the quantity of labor demanded is 3450. This creates a surplus of labor equal to 1050 workers. Therefore, the best choice is B.

Solved

Figure 8.2-Apple Production

Question 118

Multiple Choice

Figure 8.2-Apple Production Figure 8.2-Apple Production -In Figure 8.2,at a wage of W<sub>2</sub> there is a: A) Surplus of labor equal to 450 workers. B) Surplus of labor equal to 1050 workers. C) Shortage of labor equal to 1050 workers. D) Shortage of labor equal to 600 workers.
-In Figure 8.2,at a wage of W₂ there is a:

A) Surplus of labor equal to 450 workers.
B) Surplus of labor equal to 1050 workers.
C) Shortage of labor equal to 1050 workers.
D) Shortage of labor equal to 600 workers.

Correct Answer: