Which of the following is true about the equilibrium market wage?

Question

Quizplus · Accepted Answer

At the equilibrium wage, the quantity of labor supplied equals the quantity of labor demanded, which means there is no surplus or shortage of labor. Therefore, there is no unemployment in the market at the equilibrium wage. However, it does not necessarily mean that all workers or employers are satisfied with the wage, as some may still desire a higher or lower wage.

Which of the Following Is True About the Equilibrium Market