Refer to the following figure when answering the following questions.
Figure 7.5: Labor Market
-Consider Figure 7.5. Given what we know about the changes to the number of hours worked by college graduates and the wage premium received by college graduates, which equilibrium in the figure characterizes these empirical observations, on average?

Question

Refer to the following figure when answering the following questions.
Figure 7.5: Labor Market 
-Consider Figure 7.5. Given what we know about the changes to the number of hours worked by college graduates and the wage premium received by college graduates, which equilibrium in the figure characterizes these empirical observations, on average?

Quizplus · Accepted Answer

The Answer of Refer to the following figure when answering the following questions.
Figure 7.5: Labor Market 
-Consider Figure 7.5. Given what we know about the changes to the number of hours worked by college graduates and the wage premium received by college graduates, which equilibrium in the figure characterizes these empirical observations, on average?

Refer to the Following Figure When Answering the Following Questions