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Assume that the labour market for IT consultants is competitive and clears. The supply of labour is Ls = 10 + 3W, and demand for

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Assume that the labour market for IT consultants is competitive and clears. The supply of labour is Ls = 10 + 3W, and demand for labour is Lp = 190 - 3W, where L is the quantity of IT consultants and Wis hourly wage. If current wage is $50, then O A. there is an excess demand for labour and the wage will decrease. O B. there is an excess supply of labour and the wage will increase. O C. there is an excess demand for labour and the wage will increase. O D. there is an excess supply for labour and the wage will decrease

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