In a labor market diagram,the point at which the labor supply curve crosses the labor demand curve is
A) the point at which all workers are employed at the salary at which they would prefer to be employed
B) the point at which all jobs are filled at the wage employers prefer to pay
C) the point at which everyone who wants to work is able to find a job
D) a point at which we have excess labor supply,causing unemployment
E) the point at which excess demand for labor drives the wage rate upward

Question

Quizplus · Accepted Answer

The intersection of the labor supply and demand curves represents the equilibrium point where the quantity of labor supplied equals the quantity of labor demanded, meaning everyone who wants to work at the equilibrium wage can find a job.

In a Labor Market Diagram,the Point at Which the Labor