Solved

The Labor Supply Curve Is Given by the Equation LS

Question 95

Multiple Choice

The labor supply curve is given by the equation LS = 3W + 20 and the labor demand curve is given by the equation LD = 80 - 2W.If the wage is $20,there will be a ________ of ________ workers.


A) surplus; 80
B) shortage; 40
C) shortage; 80
D) surplus; 40
E) surplus; 20

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q90: The following graph represents Zendar's labor market.Use

Q91: A profit-maximizing firm in a competitive market

Q92: Consider the labor market for autoworkers.Graph and

Q93: Refer to the following figure to answer

Q94: Refer to the following figure to answer

Q96: Graph the labor supply curves based on

Q97: Use the following table,which shows the supply

Q98: If a profit-maximizing firm hires its eleventh

Q99: Use the following table to answer the

Q100: Use the following table,which shows the supply