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Using the data from the 2 tables above. graph the labor demand and supply and identify the approximate equillibrium wage and the approximiate equillibrium quantity

Using the data from the 2 tables above. graph the labor demand and supply and identify the approximate equillibrium wage and the approximiate equillibrium quantity

Daily Wage Workers willing to work

$100 9

$70 7

$50 5

$30 3

$10 1

workers 1 2 3 4 5 6 7

total output 17 30 39 47 54 58 62

Marginal Product 17 13 9 8 7 4 4

Marginal Revenue Product 102 78 54 48 42 24 24

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