in-what-way-is-the-equilibrium-in-a-labor-market-similar-to-the-equilibrium-in-a

Question

In what way is the equilibrium in a labor market similar to the equilibrium in a product market?

Accepted Answer

Both occur where supply equals demand.

Answer

Both occur where price is maximized.

Answer

Both occur where demand exceeds supply.

Answer

Both occur where supply exceeds demand.