Table 4-3 Table 4-3 Shows the Demand and Supply Schedules for Labor

question 133

Multiple Choice

Table 4-3

Table 4-3 shows the demand and supply schedules for labor market in the city of Pixley.
-Refer to Table 4-3.What is the equilibrium hourly wage (W*) and the equilibrium quantity of labor (Q*) ?

• A) W* = $10.50; Q* = 590,000
• B) W* = $11.50; Q* = 570,000
• C) W* = $9.50; Q* = 570,000
• D) W* = $10.50; Q* = 1,200,000