Table 4-8 Table 4-8 Shows the Demand and Supply Schedules

Multiple Choice

Table 4-8
Table 4-8 shows the demand and supply schedules for the low-skilled labor market in the city of Westover.
-Refer to Table 4-8. What is the equilibrium hourly wage (W*) and the equilibrium quantity of labor (Q*) ?

A) W* = $9.00; Q* = 370,000
B) W* = $8.50; Q* = 380,000
C) W* = $8.50; Q* = 360,000
D) W* = $9.00; Q* = 740,000