Table 4-4 ered Quantity of 2.00 Hourly Wage Quantity of Labor Labor stion (dollars) Supplied Demanded $8.00 350,000 390,000 8.50 360,000 380,000 9.00 370,000 370,000 9.50 380,000 360,000 10.00 390,000 350,000 10.50 400,000 340,000 Table 4-4 shows the demand and supply schedules for the low-skilled labor market in the city of Westover. Refer to Table 4-4. Suppose that the quantity of labor supplied decreases by 40,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor? Select one: a. W = $10.00; Q = 350,000 O b. W = $9.00; Q = 330,000 O c. W= $9.50; Q = 370,000 O d. W = $8.00; Q = 390,000