Wages exhibit frequent and prompt changes in response

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Reference no: EM13685616

Identify the correct statement from the following.

1. Wages offered for a particular type of job are the same across the country.

2. The labor market usually yields a range of wages rather than a unique equilibrium.

3. Wages exhibit frequent and prompt changes in response to changes in market conditions.

4. The labor market exhibits rapid adjustment to changes in supply or demand conditions.

Reference no: EM13685616

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