The Following Figures Show the Demand (D) and Supply (S)

The following figures show the demand (D) and supply (S) curves of micro and macro economists. Figure 15.7
- In Figure 15.7,assume that micro- and macroeconomists must be paid the same because of comparable-worth laws.If the wage is $12,then:

A) there is a shortage of macroeconomists and a surplus of microeconomists.
B) there is a shortage of microeconomists and a surplus of macroeconomists.
C) there is a shortage of both macroeconomists and microeconomists.
D) there is a surplus of both macroeconomists and microeconomists.
E) the labor market for economists as a whole is in equilibrium.

Correct Answer:

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