Consider the Following Model of the Labor Market:
Labor Supply $L ^ { 5 } = 1 + w$

Multiple Choice

Consider the following model of the labor market:
Labor supply: $L ^ { 5 } = 1 + w$
Labor demand: $L ^ { d } = 11 - w$
The value of the equilibrium quantity of labor, L, and wage, w, are:

A) $L ^ { * }$ = 4^4/5; $w ^ { * }$ = 1/5
B) $L ^ { * }$ = 5; $w ^ { * }$ = 6
C) $L ^ { * }$ = 6; $w ^ { * }$ = 5
D) $L ^ { * }$ = 6; $w ^ { * }$ = 6
E) Not enough information is given.