The following graph shows the labor market. The vertical axis measures wage in dollars, and the horizontal axis measures labor in hours. The twentieth unit of labor is earning a wage of:
Figure 11.1

A)$4, all of which is economic rent.
B)$4, none of which is economic rent.
C)$8, all of which is economic rent.
D)$8, none of which is economic rent.
E)$8, half of which is economic rent.

Question

​The following graph shows the labor market. The vertical axis measures wage in dollars, and the horizontal axis measures labor in hours. The twentieth unit of labor is earning a wage of: ​
Figure 11.1

A)$4, all of which is economic rent. 
B)$4, none of which is economic rent. 
C)$8, all of which is economic rent. 
D)$8, none of which is economic rent. 
E)$8, half of which is economic rent.

Quizplus · Accepted Answer

The Answer of ​The following graph shows the labor market. The vertical axis measures wage in dollars, and the horizontal axis measures labor in hours. The twentieth unit of labor is earning a wage of: ​
Figure 11.1

A)$4, all of which is economic rent. 
B)$4, none of which is economic rent. 
C)$8, all of which is economic rent. 
D)$8, none of which is economic rent. 
E)$8, half of which is economic rent.

​The Following Graph Shows the Labor Market

The Following Graph Shows the Labor Market