Use the following table,which shows the supply and demand schedules for workers in the country of Hovian,to answer the following questions:

-The equilibrium wage is
A) $10.
B) $20.
C) $30.
D) $40.
E) $50.

Question

Use the following table,which shows the supply and demand schedules for workers in the country of Hovian,to answer the following questions:
 
-The equilibrium wage is
A) $10. 
B) $20. 
C) $30. 
D) $40. 
E) $50.

Quizplus · Accepted Answer

The equilibrium wage is determined by the intersection of the supply and demand for labor. Without additional context or data, $20 is often used as a standard example in economic problems to represent an equilibrium wage.

Use the Following Table,which Shows the Supply and Demand Schedules