If the supply curve of labour market is given as S = 4L + 8.
ECONOMICS
JAMB 2023
If the supply curve of labour market is given as S = 4L + 8. What is L when s = 20?
- A. 2
- B. 4
- C. 5
- D. 3
Correct Answer: D. 3
Explanation
The supply curve of labour market is given as S = 4L + 8. To find the value of L when S = 20, we substitute S = 20 in the equation and solve for L. This gives us L = 3.
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