Correct Answer: Option C

Explanation

The equilibrium wage rate is achieved when the demand for labour equals the supply of labour in a particular labour market. At this point, there is no excess demand or excess supply of labour, and the market is in balance.
From the diagram above, the equilibrium wage rate is W2.

• what is the cut off marks for lafia federal university? Answer this

  1 Answers   ·   15 hours ago
• what is isoelectronics series? Answer this

  1 Answers   ·   Chemistry   ·   14 hours ago
• 49. Fill in the blank space with the correct word(s), from the options lettered A-D. In the sentence "The girl... Answer this

  4 Answers   ·   2 years ago