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

Question 8

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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 The figure given below shows the demand curves (D<sub>1</sub> and D<sub>2</sub>) and supply curves (S<sub>1</sub> and S<sub>2</sub>) of labor in the labor market. Figure: 15.2 Refer to Figure 15.2.At the initial equilibrium (when demand is D<sub>1 </sub>and supply is S<sub>1</sub>) , 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. 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.

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