Suppose the Labour Market Is in Equilibrium

question 124

Multiple Choice

Suppose the labour market is in equilibrium.Which of the following statements is false?

• A)The equilibrium wage rate is equal to the marginal revenue product of labour.
• B)At the equilibrium wage, the quantity of labour demanded equals the quantity of labour supplied.
• C)Some workers will earn more than the equilibrium wage.
• D)At the equilibrium wage, the demand for labour is equal to the supply of labour.

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Definitions:

Miscommunication

A failure to communicate effectively, where the intended message is not accurately conveyed or understood.

Verbal Dispute

A disagreement or argument that arises from differences in the interpretation or understanding of words.

Factual Disagreement

A conflict or argument arising from differing beliefs or understandings about specific, verifiable information.

Different Ways

Various methods, approaches, or techniques used to achieve a goal or complete a task.