The Figures Given Below Show the Demand (D)and Supply (S)

question 48

Multiple Choice

The figures given below show the demand (D) and supply (S) curves of labor in two different markets. Figure 15.3
- Refer to Figure 15.3.If the wage rates in market A and market B were set at $20,then:

• A)both the markets would be in equilibrium.
• B)there would be a shortage of workers in market A and a surplus of workers in market B.
• C)there would be a shortage of workers in market B and a surplus of workers in market A.
• D)there would be a surplus of workers in both markets.
• E)there would be a shortage of workers in both markets.

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Definitions:

Intangible Assets

Non-physical assets that possess value due to their intellectual or non-material nature, such as patents, trademarks, and goodwill.

Depreciation Method

A systematic approach used to allocate the depreciable amount of an asset over its useful life, such as straight-line or declining balance methods.

Depletion

The systematic allocation of the cost of natural resources over the period of their extraction and sale.

Natural Resource

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.