Assume That This Graph Illustrates a Perfectly Competitive Labor Market

question 109

Multiple Choice

Assume that this graph illustrates a perfectly competitive labor market.
In this market,at a wage of $40,

• A) the market would be in equilibrium.
• B) there would be more people wanting to work than there would be job openings at firms.
• C) firms would not be able to find enough workers to satisfy the firms' demand for workers.
• D) approximately 175 worker hours would be hired.

---

Definitions:

Amino Acids

Organic compounds that combine to form proteins, serving as the building blocks of life.

Protein

Essential molecules made up of amino acids that support muscle growth, repair, and overall body function.

Molecules

The smallest unit of a chemical compound that can take part in a chemical reaction, consisting of two or more atoms bonded together.

Energy Density

The number of calories in a specific weight of food, indicating how energy-dense food is. Foods with high energy density have more calories per gram, while those with low energy density have fewer calories.