The Figures Given Below Show the Demand (D)and Supply (S)

The figures given below show the demand (D) and supply (S) curves of labor in two different markets.Figure 16.3

-Refer to Figure 16.3. If the wage rates in market A and market B were set at $15, then:

A) there would be a shortage of workers in both markets.
B) there would be a surplus of workers in both markets.
C) there would be a shortage of workers in market A and a surplus of workers in market B.
D) there would be a shortage of workers in market B and a surplus of workers in market A.
E) both the markets will be in equilibrium.

Correct Answer:

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