the below graph, identify whether there is shortage or surplus?

$2$

$3$

$4$

WAGE $($Dollars per hour$)$

$14$

$12$

$10$

$6$

$7$

$8$

$9$

$10$

$0$

$200$

$400$

$600$

LABOR $($Thou

BOG

$8000$

$$s of w

$1400$

$1500$

In equilibrium

Both shortage and surplus.

Surplus

$12$

$15$

Shortage