Table 54 Table 5-4 Shows the Demand and Supply Schedules

Multiple Choice

Table 5.4 Table 5-4 shows the demand and supply schedules for labour market in the city of Pixley.
-Refer to Table 5.4.What is the equilibrium hourly wage (W*) and the equilibrium quantity of labour (Q*) ?

A) W* = $10.50; Q* = 590 000
B) W* = $11.50; Q* = 570 000
C) W* = $9.50; Q* = 570 000
D) W* = $10.50; Q* = 1 200 000