Use the Table Below to Answer the Following Questions

question 176

Multiple Choice

Use the table below to answer the following questions.
Table 3.4.1

-Refer to Table 3.4.1.If the price is $3,then the shortage is

• A)zero units.
• B)1,050 units.
• C)180 units.
• D)600 units.
• E)160 units.

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Definitions:

Equilibrium

A condition where the amount of goods available and the desire for them are equal, leading to consistent prices and the amount of goods sold.

Illegal Immigrant Workers

refers to individuals who are employed in a country without the legal right to work there, often under exploitative conditions.

Hired

The process of engaging an individual's services for employment under agreed-upon terms and conditions.

Equilibrium Wage

The wage rate at which the quantity of labor supplied by workers equals the quantity of labor demanded by employers, resulting in a stable labor market.