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

Question 20

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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 In Figure 15.2, the initial labor supply is S<sub>1 </sub>, and the labor demand is D<sub>1</sub>.If the wage is $6, which of the following is correct? A) The actual wage is above the equilibrium wage. B) There is a shortage of 30 workers. C) There is a shortage of 20 workers. D) There is a shortage of 10 workers. E) The market is in equilibrium. In Figure 15.2, the initial labor supply is S1 , and the labor demand is D1.If the wage is $6, which of the following is correct?


A) The actual wage is above the equilibrium wage.
B) There is a shortage of 30 workers.
C) There is a shortage of 20 workers.
D) There is a shortage of 10 workers.
E) The market is in equilibrium.

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