Table 54 Table 5-4 Shows the Demand and Supply Schedules

question 69

Multiple Choice

Table 5.4 Table 5-4 shows the demand and supply schedules for labour market in the city of Pixley.
-Refer to Table 5.4.Suppose that the quantity of labour demanded increases by 40 000 at each wage level.What are the new free market equilibrium hourly wage and the new equilibrium quantity of labour?

• A)W = $8.50; Q = 550 000
• B)W = $12.50; Q = 630 000
• C)W = $9.50; Q = 570 000
• D)W = $11.50; Q = 610 000

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Definitions:

Sesamoid Bone

A small, round bone embedded within a tendon; its primary function is to protect tendons and increase their mechanical advantage.

Shoulder

The region where the arm joins the torso, consisting of several joints and an ensemble of muscles and tendons that provide motion and stability.

Articulations

Joints or the points where two bones meet, allowing for a variety of movements.

Increase in Angle

Increase in angle refers to the widening or opening of the angle between two intersecting lines or surfaces.