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3.5.3 Wage determination in competitive and non-competitive markets
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Competitive labour market equilibrium

Competitive labour market equilibrium

Labour market diagram showing demand and supply intersecting at equilibrium, followed by a rightward shift in labour demand that raises the equilibrium wage and employment

In a competitive labour market, equilibrium occurs where labour demand equals labour supply.

3.5.3 Wage determination in competitive and non-competitive markets Lesson

  1. A Level
  2. /Economics
  3. /3.5.3 Wage determination in competitive and non-competitive markets

Step-by-step lessons covering Edexcel A A Level Economics 3.5.3 Wage determination in competitive and non-competitive markets for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.