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The Following Figure Shows Two Labor Demand Curves, LD₁ and LD₂

Question 2

Multiple Choice

The following figure shows two labor demand curves, LD₁ and LD₂, and two labor supply curves, LS₁ and LS₂.
The following figure shows two labor demand curves, LD₁ and LD₂, and two labor supply curves, LS₁ and LS₂. -Refer to the figure above.What is the equilibrium wage rate if the labor demand curve is LD₁ and the labor supply curve is LS₁? A) $15 B) $20 C) $25 D) $30
-Refer to the figure above.What is the equilibrium wage rate if the labor demand curve is LD₁ and the labor supply curve is LS₁?


A) $15
B) $20
C) $25
D) $30

Correct Answer:

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