Solved

The Figures Given Below Show the Demand (D)and Supply (S)

Question 22

Multiple Choice

The figures given below show the demand (D) and supply (S) curves of labor in two different markets.Figure 16.3
The figures given below show the demand (D) and supply (S)  curves of labor in two different markets.Figure 16.3    -Refer to Figure 16.3. If the wage rates in market A and market B were set at $15, then: A) there would be a shortage of workers in both markets. B) there would be a surplus of workers in both markets. C) there would be a shortage of workers in market A and a surplus of workers in market B. D) there would be a shortage of workers in market B and a surplus of workers in market A. E) both the markets will be in equilibrium.
-Refer to Figure 16.3. If the wage rates in market A and market B were set at $15, then:


A) there would be a shortage of workers in both markets.
B) there would be a surplus of workers in both markets.
C) there would be a shortage of workers in market A and a surplus of workers in market B.
D) there would be a shortage of workers in market B and a surplus of workers in market A.
E) both the markets will be in equilibrium.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents