E ME Suppose that labour supply is perfectly elastic at an hourly wage of $20...
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E ME Suppose that labour supply is perfectly elastic at an hourly wage of $20 up to a quantity of labour of 150,000 and for an hourly wage greater than or equal to $20 the labour supply curve is expressed as W=5+0.0001Ls. If the labour demand curve is W = 38 - 0.0002Lp, the equilibrium wage and labour would be OA $16 and 110,000 respectively OB. None of the listed options OC. $20 add 90,000 respectively OD. $20 and 150 000 respectively
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