Refer to the Table

question 137

Multiple Choice

Refer to the table. If demand is represented by columns (3) and (1) and supply is represented by columns (3) and (4) , equilibrium price and quantity will be

• A)$10 and 60 units.
• B)$9 and 60 units.
• C)$8 and 80 units.
• D)$8 and 60 units.

---

Definitions:

Workers Demanded

The number of employees that employers are willing to hire at a given wage rate within a specific period.

Labor Demand Curve

A graphical representation showing the relationship between the quantity of labor demanded by employers and the wage rate.

Elastic

A term in economics describing a situation in which the demand or supply for a good or service dramatically changes in response to price changes.

Economic Immigration

The movement of individuals from one country to another to seek better economic opportunities, often including employment and business prospects.