Refer to the Following Figure When Answering the Following Questions

question 114

Multiple Choice

Refer to the following figure when answering the following questions.
Figure 7.5: Labor Market
-Consider Figure 7.5. Given what we know about the changes to the number of hours worked by college graduates and the wage premium received by college graduates, which equilibrium in the figure characterizes these empirical observations, on average?

• A) the intersection of and
• B) the intersection of and
• C) the intersection of and
• D) the intersection of and
• E) None of these answers is correct.

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