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The table below shows the labour demand and labour supply schedules in a competitive labour ...

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The table below shows the labour demand and labour supply schedules in a competitive labour ...

The table below shows the labour demand and labour supply schedules in a competitive labour market.

Wage Rate ($/hour)	Quantity Demanded of Labour (hours/month)	Quantity Supplied of Labour (hours/month)
10	1300	500
12	1000	1000
14	800	1300
15	400	1500
17	200	1800

TABLE 14-1

Refer to Table 14-1. In a competitive labour market that clears, the equilibrium employment level would be

▸ 1300 units.

▸ 500 units.

▸ 1000 units.

▸ 400 units.

▸ 800 units.

Textbook

Microeconomics

Edition: 17^th

Author: Ragan

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