What equilibrium wage rate and quantity is of labour hired

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Q. Compare correlation between China's rate of economic growth between 1980 and say 2005 (or 2006) and improvement in its rate of infant mortality (or another social indicator) over this period with India's correlation between same variables for same period. What does this comparison suggest?

Q. Demand for labour by an industry is given by curve L = 1200 - 10w, where L is labour demanded per day and w is wage rate. Supply curve is given by L = 20w. What equilibrium wage rate and quantity is of labour hired? What is economic rent earned by workers?

Reference no: EM1372476

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