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Wage Price Index NS 45 NS No 40 35 30- 25 20 - 15- 10 5 Na No 0 5 10 15 20 25 30

Wage Price Index NS 45 NS No 40 35 30- 25 20 - 15- 10 5 Na No 0 5 10 15 20 25 30 35 40 Quantity of(N) labor (units) Refer to the figure above. What is the equilibrium wage rate if the labor demand curve is ND1 and the labor supply curve is NS1? $15 $20 $25 $30

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