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The Labor Supply Curve Is Given by the Equation LS

Question 69

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. The equilibrium wage in this labor market is:


A) $10.
B) $12.
C) $36.
D) $56.
E) $80.

Correct Answer:

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