Analyze the problem and answer the question:As of 2017, employment rate of the Philippines is estimated at 94.3%. The labor marketis essentially a market where workers (producers) sell their skills to employers(consumers/buyers).Does consumer and producer surplus exist in this market, or is marketequilibrium maintained? Explain your opinion using examples

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In the labor market both consumer and producer surplus exist but market equilibrium is usually maint... View the full answer