-The Table Above Gives Information About the Labour Market in Lantis

question 143

Multiple Choice

-The table above gives information about the labour market in Lantis, a community in which the labour market is perfectly competitive. If the demand for labour decreases by 200 hours per day, the equilibrium wage rate falls to _______ an hour and the quantity of labour employed _______ hours per day.

• A) $20; increases to 400
• B) $5; remains at 200
• C) $10; decreases to 300
• D) $10; remains at 400

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Definitions:

Organizational Culture

A firm’s shared values, beliefs, traditions, philosophies, rules, and role models for behavior.