The Following Figure Shows Two Labor Demand Curves, LD₁ and LD₂

question 241

Multiple Choice

The following figure shows two labor demand curves, LD₁ and LD₂, and two labor supply curves, LS₁ and LS₂.

-Refer to the figure above.What is the equilibrium employment if the labor demand curve is LD₁ and the labor supply curve is LS₁?

• A) 5 units
• B) 10 units
• C) 15 units
• D) 20 units

---

Definitions:

Mortgage

A legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Financial

Relating to finance, encompassing all aspects of managing, investing, and monitoring money and assets.

Loan

A sum of money that is borrowed, typically from a financial institution, which is expected to be paid back with interest.

Lease

A contractual agreement in which one party (the lessor) allows another (the lessee) to use an asset for a specified period of time in exchange for payment or some other consideration.