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

question 8

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: 15.2 Refer to Figure 15.2.At the initial equilibrium (when demand is D₁ and supply is S₁) , the wage rate and labor employment are:

• A)$7 and 20 laborers.
• B)$8 and 30 laborers.
• C)$6 and 50 laborers.
• D)$5 and 20 laborers.
• E)$5 and 10 laborers.

---

Definitions:

Long-term Account Penetration

The strategic effort to deepen and expand the business relationship with a client over a prolonged period.

Honor People

Honoring people involves showing respect and appreciation for their contributions, values, and diversity, often leading to a positive and inclusive environment.

Customer Satisfaction

The measure of how products or services supplied by a company meet or surpass customer expectation.

Customer Retention

The ability of a company to keep its customers over a period of time, reducing customer defections.