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CAPE Economics Unit 1 · 2005 · Paper 1 · Question 14(a)

Labour market diagram displaying demand (DL) and supply (SL) curves.

Determine the equilibrium wage and the equilibrium number of workers employed from the diagram.

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Other parts of this question

  1. 14(b)(i)Determine the number of workers that will be employed at a wage rate of $22.[2 marks]
  2. 14(b)(ii)Calculate the number of workers who will be laid off as a result of the negotiated wage rate.[2 marks]

More practice: the rest of this paper · more The Demand for and Supply of Factors questions · all CAPE Economics Unit 1 past papers