The table above shows the demand for labor and supply of labor schedules for low-skilled labor. If the labor market is competitive, what is the wage rate of low-skilled labor and what is the quantity of low-skilled labor employed?
A) 6 an hour; 60 hours a day
B) 6 an hour; 65 hours a day
C) 4 an hour; 70 hours a day
D) 4 an hour; 55 hours a day
Question 2
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