Millionaire Mode

Labor Market Equilibrium

Question 1 of 15

What is the equilibrium wage rate?

  1. The wage rate at which the quantity of labor supplied equals the quantity of labor demanded.
  2. The wage rate at which the quantity of labor supplied is greater than the quantity of labor demanded.
  3. The wage rate at which the quantity of labor supplied is less than the quantity of labor demanded.

Prize Money

15₹7 Crores
14₹1 Crore
13₹50,00,000
12₹25,00,000
11₹12,50,000
10₹6,40,000
9₹3,20,000
8₹1,60,000
7₹80,000
6₹40,000
5₹20,000
4₹10,000
3₹5,000
2₹2,000
1₹1,000