If the supply of workers and demand for workers is not an equilibrium which of the following statements is true

a. workers are paid according to the value of what they produce

b. the higher the wage for a job the more people are attracted to it

c. the supply of labor is higher than the demand for labor

d. there is no pressure to raise or lower wages

Question

Business

Savanah

1 May, 16:33

If the supply of workers and demand for workers is not an equilibrium which of the following statements is true

a. workers are paid according to the value of what they produce

b. the higher the wage for a job the more people are attracted to it

c. the supply of labor is higher than the demand for labor

d. there is no pressure to raise or lower wages

+3

Answers (1)

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Zackary Oneal · Answer 1

C) The supply of labor is higher than the demand for labor if the supply of workers and demand for workers is not an equilibrium. The labor market equilibrium is a state or condition where the supply of the worker equal to the demand for the worker. The labor market is a type of factor market where factors of the production are being bought and sold.