Wage Rate Quantity of Labor Demanded Quantity of Labor Supplied $5.00 175,550,000 120,000,000 $5.50 162,000,000 136,485,000 $6.00 153,300,020 153,300,020 $6.50 148,600,579 155,250,000 $7.00 142,050,000 157,132,360 $7.50 139,630,000 159,800,000 $8.00 135,000,000 161,000,785 At what wage rate does the labor market experience its largest surplus

Consider two cigarette companies, pm inc. and brown inc. if neither company advertises, the two companies split the market and earn $50 million each. if they both advertise, they again split the market, but profits are lower by $10 million since each company must bear the cost of advertising. yet if one company advertises while the other does not, the one that advertises attracts customers from the other. in this case, the company that advertises earns $60 million while the company that does not advertise earns only $30 million. if these two companies collude and agree upon the best joint strategy, a. neither company will advertise. b. both companies will advertise. c. pm inc. will advertise but brown inc. will not. d. brown inc. will advertise but pm inc. will not.