Use the figure below to answer the following questions. Figure 6.2.1
-Refer to Figure 6.2.1.What is the equilibrium wage rate per hour in an unregulated market?
A)$4
B)$6
C)$8
D)$10
E)$12

Question

Use the figure below to answer the following questions.  Figure 6.2.1
-Refer to Figure 6.2.1.What is the equilibrium wage rate per hour in an unregulated market?
A)$4 
B)$6 
C)$8 
D)$10 
E)$12

Quizplus · Accepted Answer

The equilibrium wage rate in an unregulated market is determined by the intersection of the supply and demand curves for labor. This point represents the wage at which the quantity of labor supplied equals the quantity of labor demanded.

Use the Figure Below to Answer the Following Questions