The following two (2) questions are based on Table 1 Table 1. Demand and supply schedules for the labor market in the city of Pixley. Quantity of Labor Supplied 0000 550,000 630,000 Hourly W age (dollars) 2. Refer to Table 1. What is the equilibrium hourly wage (w*) and the equilibrium quantity of labor (L*)? a b. c. d. w* = $10.50; L* = 590,000 w* = $11.50; L* = 570,000 w* = $9.50; L* = 570,000 w* = $10.50; L* = 1,200,000