The Labor Supply Curve Is Given by the Equation LS

question 13

Multiple Choice

The labor supply curve is given by the equation LS = 3W + 20 and the labor demand curve is given by the equation LD = 80 - 2W.The equilibrium wage in this labor market is:

• A) $10.
• B) $12.
• C) $36.
• D) $56.
• E) $80.

---

Definitions:

Manganese Oxides

Compounds of manganese with oxygen, often found as minerals that can form in soils and sedimentary rocks.

Calcium Carbonate

A chemical compound with the formula CaCO3, found in rocks as the minerals calcite and aragonite and is the main component of pearls and the shells of marine organisms, snails, and eggs.

Caliche

A soil-related accumulation of calcareous material that cements sand, gravel, and other materials, commonly forming a hard layer.

Landscape Features

Physical attributes of the land surface, including mountains, rivers, plains, and valleys.