Refer to the information provided in Figure 14.2 below to answer the questions that follow.
Figure 14.2
-Refer to Figure 14.2.The equilibrium wage rate is $________ and the equilibrium number of people employed is ________ million people.

Question

Refer to the information provided in Figure 14.2 below to answer the questions that follow.
  Figure 14.2
-Refer to Figure 14.2.The equilibrium wage rate is $________ and the equilibrium number of people employed is ________ million people.

Quizplus · Accepted Answer

The equilibrium wage rate and number of people employed are determined where the supply and demand for labor intersect, which is at $9 and 210 million people.

Refer to the Information Provided in Figure 14