Use the Following Table,which Shows the Supply and Demand Schedules

question 48

Multiple Choice

Use the following table,which shows the supply and demand schedules for workers in the country of Hovian,to answer the following questions:

-The equilibrium wage is

• A) $10.
• B) $20.
• C) $30.
• D) $40.
• E) $50.

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Definitions:

Critical Thinking

The process of actively analyzing, synthesizing, evaluating, and reflecting on information gathered from observation, experience, or communication to make reasoned judgments.

Negative Reinforcement

The removal of a stimulus that in turn increases or maintains the probability of some behaviour.

Punishment

The application of an aversive stimulus following some behaviour designed to decrease the probability of that behaviour.

Modelling

The process of creating representations of complex systems or behaviors to simplify analysis and understanding.