Answer to Question #70437 in Microeconomics for Gabriel Vargas
W is wage rate per hour for labour, D and S are demand and supply for unskilled labour, both measured in hours.
Calculate the equilibrium rate and quantity of labour employed and draw a diagram to illustrate your answer
10000w = 95000
w = 9.5
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!