Multiple Choice
Consider the following model of the labor market:
Labor supply: 
Labor demand: 
)
The value of the equilibrium quantity of labor,L,and wage,w,are:
A) 
; 
.
B) L* = 5;w* = 6.
C) L* = 6;w* = 5.
D) L* = 6;w* = 6.
E) Not enough information is given.
Correct Answer:
Verified
Correct Answer:
Verified
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