[Solved] The following figure shows curves for labor demand and labor supply. -Refer to the figure above.Why might we observe the wage rate to be at WH rather than at WM? A) The market clearing wage rate is at WH. B) By federal law, the minimum wage is set at WL. C) New technological inventions may have driven up the wage rate. D) Companies may have found that they can increase their returns from investments in labor by paying the higher wage. Silt: Fine-grained soil or sediment with particles smaller than sand and larger than clay, often carried by water and deposited as sediment. Clay: A natural, earthy material composed of fine-grained minerals, often used in pottery, bricks, and sculpture, known for its plasticity when moist. Gymnosperms: A group of seed-producing plants that includes conifers, cycads, Ginkgo, and gnetophytes, characterized by their naked seeds not enclosed in an ovary. Angiosperms: A large group of plants characterized by having flowers and producing seeds enclosed within a fruit.