According to the figure above, if there is no income tax, the equilibrium real wage rate is ________ and the equilibrium hours of labor are ________

A) $20; 200 billion
B) $30; 250 billion
C) $30; 200 billion
D) $35; 200 billion
E) The equilibrium is not shown.


B

Economics

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A.One has a horizontal demand curve, the other is vertical. B.Both are horizontal C.One has a vertical demand curve, the other is downward sloping. D.They are essentially the same

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In developing economic theories, principles, or models, economists:

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Refer to Figure 22.3 for a perfectly competitive firm. If the market price is $15,

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Economics