The figure given below shows the demand curves (D₁ and D₂) and supply curves (S₁ and S₂) of labor in the labor market.Figure: 16.2

-In Figure 16.2, the initial labor supply is S₁ , and the labor demand is D₁. If the wage rate is $6, which of the following is correct?

Question

The figure given below shows the demand curves (D₁ and D₂) and supply curves (S₁ and S₂) of labor in the labor market.Figure: 16.2

The figure given below shows the demand curves (D<sub>1</sub> and D<sub>2</sub>) and supply curves (S<sub>1</sub> and S<sub>2</sub>) of labor in the labor market.Figure: 16.2 -In Figure 16.2, the initial labor supply is S<sub>1</sub> , and the labor demand is D<sub>1</sub>. If the wage rate is $6, which of the following is correct? A) The actual wage is above the equilibrium wage. B) There is a shortage of 30 workers. C) There is a shortage of 20 workers. D) There is a shortage of 10 workers. E) The market is in equilibrium.

-In Figure 16.2, the initial labor supply is S₁ , and the labor demand is D₁. If the wage rate is $6, which of the following is correct?

Quizplus · Accepted Answer

The Answer of The figure given below shows the demand curves (D 1 and D 2 ) and supply curves (S 1 and S 2 ) of labor in the labor market.Figure: 16.2 -In Figure 16.2, the initial labor supply is S₁ , and the labor demand is D₁. If the wage rate is $6, which of the following is correct?

The Figure Given Below Shows the Demand Curves (D1 and D2)

The Figure Given Below Shows the Demand Curves (D₁ and D₂)