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Refer to the Graph Shown

Question 31

Multiple Choice

Refer to the graph shown. Without government intervention, market forces would result in: Refer to the graph shown. Without government intervention, market forces would result in: A) 800 labor hours demanded, 800 labor hours supplied, and a wage rate of $6.50 per hour. B) 500 labor hours demanded, 900 labor hours supplied, and a wage rate of $7.25 per hour. C) 1,200 labor hours demanded, 500 labor hours supplied, and a wage rate of $4.50 per hour. D) 500 labor hours demanded, 500 labor hours supplied, and a wage rate of $7.25 per hour.


A) 800 labor hours demanded, 800 labor hours supplied, and a wage rate of $6.50 per hour.
B) 500 labor hours demanded, 900 labor hours supplied, and a wage rate of $7.25 per hour.
C) 1,200 labor hours demanded, 500 labor hours supplied, and a wage rate of $4.50 per hour.
D) 500 labor hours demanded, 500 labor hours supplied, and a wage rate of $7.25 per hour.

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