Refer to the Information Provided in Figure 14

question 118

Multiple Choice

Refer to the information provided in Figure 14.3 below to answer the questions that follow.
Figure 14.3
-Refer to Figure 14.3.If this firm pays the efficient wage of $11,

• A)the firm's demand for labor will increase until $11 is also the equilibrium wage.
• B)the supply of labor will decrease until $11 is also the equilibrium wage.
• C)there will be an excess supply of labor of 2,000.
• D)there will be an excess supply of labor of 3,000.

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Definitions:

Arthropod

Invertebrates, with an exoskeleton and jointed appendages, such as crustaceans and insects.

Lobsters

Marine crustaceans with a hard shell, long antennae, and ten legs, known for being a popular seafood.

Squids

Cephalopod mollusks known for their bilateral symmetry, elongated bodies, large eyes, and ability to squirt ink as a defense mechanism.

Cephalopods

A class of mollusks, including octopuses, squids, and cuttlefish, known for their complex behaviors and advanced nervous systems.