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) 
=44/5; 
= 1/5.
B) 
= 5; 
= 6.
C) 
= 6; 
= 5.
D) 
=6; 
= 6.
E) Not enough information is given.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q2: A main concern of short-run macroeconomics is
Q3: The short run is concerned with _,
Q4: When we look at the _ run,
Q5: Consider the following model of the labor
Q6: These four steps, in the following order,
Q8: An economic model is an exact replica
Q9: A main concern of long-run macroeconomics is
Q10: Which of the following does macroeconomics endeavor
Q11: Macroeconomics is to microeconomics what _ is
Q12: Which of the following questions should a