Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 10 Oct 2017 My Price 6.00

graphic T-shirts,

Suppose you run a business that specializes in producing graphic T-shirts, using labor as an input.

 

Hourly wage
($)		 Quantity
demanded		 Quantity
supplied
24    0 600
22   50 550
20 100 500
18 150 450
16 200 400
14 250 350
12 300 300
10 350 250
8 400 200


Based on the table above, graph the labor supply and labor demand curves and identify the market equilibrium wage and quantity using the graph below.

Instructions: Use the line tools provided (Supply and Demand) to plot the labor supply and labor demand lines for wages of $8 and $24 (2 points per line). Use the point tool provided (E) to indicate market equilibrium wage and quantity.

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Oct 2017 02:10 PM My Price 6.00

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