The Following Question Are Based on the Following Graph Depicting

Multiple Choice

The following question are based on the following graph depicting a perfectly competitive labor market:

-This is an equilibrium because

A) no worker wishes to work for a lower wage.
B) a higher wage would produce an excess supply; a lower wage would produce an excess demand.
C) at a wage above this, employers are not willing to hire any workers.
D) this wage is consistent with union ambitions.
E) higher or lower wages generate shifts in the supply and demand curve to restore that wage.