Exhibit 10-A
Several congressmen and senators have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at W A . Their aides, who were all excellent economics students, have returned with the results of an investigation into the matter, as portrayed below.
-Refer to Exhibit 10-A.If the wage law was not enacted, the prevailing wage rate and quantity of labor in the marketplace for K-12 teachers at equilibrium would be:

Question

Exhibit 10-A
Several congressmen and senators have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at W A . Their aides, who were all excellent economics students, have returned with the results of an investigation into the matter, as portrayed below. 
-Refer to Exhibit 10-A.If the wage law was not enacted, the prevailing wage rate and quantity of labor in the marketplace for K-12 teachers at equilibrium would be:

Quizplus · Accepted Answer

The prevailing wage rate and quantity of labor in the marketplace for K-12 teachers at equilibrium would be W_B and Q₂, respectively, if the wage law was not enacted. This is because the equilibrium point is where the supply and demand curves intersect, and the wage law would shift the supply curve to the left, resulting in a higher wage rate and lower quantity of labor.

Exhibit 10-A Several Congressmen and Senators Have Been Greatly Concerned About the About