The following figures show the demand and supply of labor in two different types of labor market. Figure 15.5
In the figures,
D: Demand curve for labor
S: Supply curve of labor
MRP: Marginal revenue product
MFC: Marginal factor cost
In Figure 15.5, the equilibrium wage rate and the level of employment in Market A are _____ and _____ respectively.
A) $8;15 hours.
B) $10;10 hours.
C) $10;20 hours.
D) $12;25 hours.
E) $6;20 hours.
Correct Answer:
Verified
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