Refer to the information provided in Figure 23.2 below to answer the question(s) that follow. 
Figure 23.2
-Refer to Figure 23.2. Jerry's ________ equals ________ at income level Y1.
Definitions:
Market Wage Rate
The prevailing pay rate for a specific job in the labor market, influenced by factors like supply and demand.
Equilibrium Quantity
The amount of products or services offered and sought at the equilibrium price, a point where the supplied quantity matches the demanded quantity.
Equilibrium Price
The cost at which the amount of a product that buyers want to purchase matches the amount sellers are willing to offer, leading to a balanced market situation.
Labor Market
The market in which individuals offer their labor to employers in exchange for wages, showing the relationship between the supply of labor and the demand for it.
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