Final answer:
In this English language context, the correct sentence would be: 'Hurry up! Everybody is waiting for you'. We use present continuous tense ('is waiting') because the action is ongoing at the moment of speaking.
Step-by-step explanation:
In English language usage, the correct sentence is: Hurry up! Everybody is waiting for you.
The present continuous tense is used when we talk about something happening at the very moment of speaking or current, but not necessarily happening right now. Therefore, 'is waiting' appropriately denotes that the waiting is already taking place and is ongoing at the present moment. In simpler terms, all the people (everybody) in the context of this sentence have already started waiting and are still waiting.
Learn more about present tense