Use the Table Below to Answer the Following Questions

question 36

Multiple Choice

Use the table below to answer the following questions.
Table 6.2.2
-Table 6.2.2 gives the labour demand and labour supply schedules for low-skilled labour.What is the equilibrium wage rate in an unregulated market?

• A)$15.00 per hour
• B)$15.50 per hour
• C)$16.00 per hour
• D)$16.50 per hour
• E)$17.50 per hour

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Definitions:

International Trade Agreements

Legal accords between countries that dictate the terms and conditions of trade between them.

Counterfeit

Goods that are made or sold under another's brand name without the brand owner's authorization.

General Partnership

A business owned by two or more people who have made a decision to comanage and share in the profits and losses.

Liable

Being legally responsible for something, typically involving financial compensation or obligations.