Wisconsin metropolitan area, according to the BLS. They worked for a variety of employers: hospitals, doctors’

offices, schools, health clinics, and nursing homes. Figure 4.2 illustrates how demand and supply determine

equilibrium in this labor market. The demand and supply schedules in Table 4.1 list the quantity supplied and

quantity demanded of nurses at different salaries.

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4.1 • Demand and Supply at Work in Labor Markets 89

FIGURE 4.2 Labor Market Example: Demand and Supply for Nurses in Minneapolis-St. Paul-Bloomington The

demand curve (D) of those employers who want to hire nurses intersects with the supply curve (S) of those who are

qualified and willing to work as nurses at the equilibrium point (E). The equilibrium salary is $85,000 and the

equilibrium quantity is 41,000 nurses. At an above-equilibrium salary of $90,000, quantity supplied increases to
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