The Figure Given Below Shows the Demand Curves (D₁ and D₂)and

question 76

Multiple Choice

The figure given below shows the demand curves (D₁ and D₂) and supply curves (S₁ and S₂) of labor in the labor market. Figure: 29.2 In Figure 29.2, the initial labor supply is S₁ , and the labor demand is D₁.If the wage is $6, which of the following is correct?

• A)The actual wage is above the equilibrium wage.
• B)There is a shortage of 30 workers.
• C)There is a shortage of 20 workers.
• D)There is a shortage of 10 workers.
• E)The market is in equilibrium.

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Definitions:

Lateral Rectus

A muscle in the eye that abducts the eyeball, allowing movement of the eye laterally towards the temple.

Superior Oblique

A muscle of the eye that contributes to downward and outward movements.

Superior Rectus

A muscle in the eye that controls upward gaze.

Inferior Rectus

A muscle in the eye that primarily contributes to downward eye movement.