Suppose the Market for Labor Is Perfectly Competitive and the Demand

question 22

Multiple Choice

Suppose the market for labor is perfectly competitive and the demand for labor is $L = 100 - 10 w$ and market supply is $L = - 20 + 10 w$ .The equilibrium number of workers hired will be

• A)30
• B)40
• C)50
• D)60

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Definitions:

Catheter

A flexible tube inserted into the body for removing fluids or introducing medication directly into specific areas, such as the bladder.

Afferent Arteriole

A small artery that carries blood toward the glomeruli of the kidney, playing a key role in the regulation of blood pressure.

Sugar Reabsorption

The process by which the kidneys filter and reabsorb glucose back into the bloodstream, preventing excess sugar from being excreted in urine.

Threshold

A minimum amount of supplies to be maintained; also known as par level.