Use the following table to answer the following questions.

-At what price level does the labor market experience its largest shortage?
A) $5.00
B) $5.50
C) $6.00
D) $7.50
E) $8.00

Question

Use the following table to answer the following questions.
 
-At what price level does the labor market experience its largest shortage?
A) $5.00 
B) $5.50 
C) $6.00 
D) $7.50 
E) $8.00

Quizplus · Accepted Answer

At the lowest price level, $5.00, the labor market experiences its largest shortage because the quantity of labor demanded exceeds the quantity of labor supplied, creating the largest gap between demand and supply.

Use the Following Table to Answer the Following Questions