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Answer to Question #267619 in Macroeconomics for Chhatra Pati Pradh

Question #267619

Explain equilibrium in goods markets and labour markets?

1
Expert's answer
2021-11-17T11:16:53-0500

Labor market tends to be in equilibrium if its demand is equal to the supply. At equilibrium, every individual who is after work is able to find one. Triangle P provides producer surplus as Q produces worker supply.


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