Which of the following is true about the equilibrium market wage for a particular industry?

Question

Quizplus · Accepted Answer

The equilibrium market wage for a particular industry is the wage at which the quantity of labor demanded equals the quantity of labor supplied. At this wage, there is no unemployment in the industry because all workers who want to work at this wage can find employment, and all firms who want to hire at this wage can find workers. However, it does not necessarily mean that all workers or employers are satisfied with the wage, and there may not be a surplus of workers at this wage.

Which of the Following Is True About the Equilibrium Market