-Refer to the Graph Above to Answer This Question

question 101

Multiple Choice

-Refer to the graph above to answer this question.Suppose that the original supply and demand curves for labour are S₁ and D₁ and that the market is in equilibrium at point e.What can you conclude has happened if a new equilibrium at a occurs?

• A)The supply of labour,the wage rate and the equilibrium quantity have all increased.
• B)The demand for labour,the wage rate and the equilibrium quantity have all increased.
• C)The wage rate and the equilibrium quantity have increased while the supply of labour has decreased.
• D)The wage rate and the equilibrium quantity have increased while the demand for labour has decreased.
• E)The wage rate and the equilibrium quantity have increased while both the demand for and the supply of labour has increased.

---

Definitions:

Fair Value

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Jointly Controlled Operation

A joint operation where the parties that have joint control of the operation have rights to the assets, and obligations for the liabilities, relating to the arrangement.

Cash Position

A company's total cash and liquid assets minus its liabilities.

Joint Venturer

is an entity that engages in a joint venture, sharing control, resources, and risks with other ventures.