Question 1
The diagram below shows the supply and demand for labour in a competitive labour market.

FIGURE 14-6
Refer to Figure 14-6. If this labour market were perfectly competitive, the predicted wage rate would be
◦ $15.
◦ $35.
◦ $25.
◦ $30.
◦ $20.
Question 2
The diagram below shows the supply and demand for labour in a competitive labour market.

FIGURE 14-6
Refer to Figure 14-6. If this labour market were perfectly competitive, the predicted employment level would be
◦ 140.
◦ 210.
◦ 280.
◦ 350.
◦ 420.