In a Particular Labour Market,the Demand for Labour Is Given

question 39

Multiple Choice

In a particular labour market,the demand for labour is given by W = 20 - (1 / 100) L,and the supply of labour is given by W = 4 + (1 / 100) L,where W is the wage rate and L is the number of workers.The equilibrium wage is _____,and the equilibrium number of workers is _____.

• A) $10;1 000
• B) $12;800
• C) $8;1 200
• D) $20;1 000

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Definitions:

Organic Soup

A hypothetical mixture of organic molecules from which life on Earth could have originated, prebiotically existing in the Earth's early oceans.

DNA Or RNA

Molecules that contain the genetic information for the synthesis of proteins and control of cellular activities; DNA is double-stranded while RNA is typically single-stranded.

Enzymes

Biological catalysts that speed up the rate of chemical reactions in the body without being consumed or permanently altered.

Electric Spark

A sudden discharge of electricity through the air, producing a bright flash of light and often accompanied by a sharp crackling sound, typically occurring when a high voltage is applied across a gap in a circuit.