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Figure: The Labor Market
-(Figure: The Labor Market) Look at the figure The Labor Market. The size of the labor force at the equilibrium wage rate is:
A)80,000.
B)110,000.
C)100,000.
D)200,000.

Question

Use the following to answer questions:
Figure: The Labor Market 
-(Figure: The Labor Market) Look at the figure The Labor Market. The size of the labor force at the equilibrium wage rate is:
A)80,000. 
B)110,000. 
C)100,000. 
D)200,000.

Quizplus · Accepted Answer

At the equilibrium wage rate, the quantity of labor demanded is equal to the quantity of labor supplied. This occurs at a wage rate of $10 per hour and a quantity of 100,000 workers in the labor force. Therefore, the answer is C.

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