Use the Following Table,which Shows the Supply and Demand Schedules

question 48

Multiple Choice

Use the following table,which shows the supply and demand schedules for workers in the country of Hovian,to answer the following questions:

-The equilibrium wage is

• A) $10.
• B) $20.
• C) $30.
• D) $40.
• E) $50.

---

Definitions:

Industry

The organized action of making goods and services available for consumer use through the production, manufacturing, or construction processes.

Payoff Matrix

A table that shows the potential outcomes of different strategies in a game or decision-making situation.

Compete

The act of entities striving against each other to attain a goal, such as a higher market share or win.

Cooperate

The act of working together towards a common goal or benefit.