Figure 18-10 -Refer to Figure 18-10. If the relevant labor demand curve is D₂ and the current wage is W₁, A)there is a surplus of labor. B)there is a shortage of labor. C)the quantity of labor supplied exceeds the quantity of labor demanded. D)workers are failing to take into account the work-leisure tradeoff in deciding what quantity of labor to supply at alternative wages.

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The Answer of Figure 18-10 -Refer to Figure 18-10. If the relevant labor demand curve is D₂ and the current wage is W₁, A)there is a surplus of labor. B)there is a shortage of labor. C)the quantity of labor supplied exceeds the quantity of labor demanded. D)workers are failing to take into account the work-leisure tradeoff in deciding what quantity of labor to supply at alternative wages.

Figure 18-10 -Refer to Figure 18-10. If the Relevant Labor Demand Curve