Use the following table to answer the following questions.

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

Quizplus · Accepted Answer

A labor market surplus occurs when the supply of labor exceeds the demand for labor. This typically happens at higher wage levels, where fewer employers are willing to hire at that rate, leading to unemployment. $8.00 is the highest price level listed, likely resulting in the largest surplus.

Use the Following Table to Answer the Following Questions