Labor market equilibrium is best characterized by Group of answer choices a wage at which all workers are above the poverty leve
l. a wage at which the number of people willing to work equals the number of workers firms are willing to hire. all workers receiving their ideal wage. a minimum wage at which everyone is willing to work. a wage at which all people have a job.
1 answer:
Answer:
a wage at which the number of people willing to work equals the number of workers firms are willing to hire
Explanation:
Labor market equilibrium is where the demand curve for labour interests the supply curve for labour. At this point, the wage rate is the wage at which the number of people willing to work equals the number of workers firms are willing to hire
Please check the attached image for a graph depicting equilibrium in the labour market
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