The wage rate at which the labour market is in equilibrium is a point where.

Labour Demand = Labour Supply

The correct answer is Option (2) → Labour Demand = Labour Supply

• The equilibrium wage rate in the labour market is determined at the point where:

  Labour Demand = Labour Supply

• At this wage rate: Employers are willing to hire exactly the number of workers that workers are willing to supply. There is no excess demand (labour shortage) or excess supply (unemployment).

Other Options: 

• Labour demand = 0: This would imply no demand for labor, which is not an equilibrium condition in a functional market.

• Labour Supply = Labour Demand = 0: This implies that there is no activity in the labour market, which is not an equilibrium point for a functioning market.

• Wages = Marginal Revenue from labour × Price: This formula represents the firm's profit-maximizing condition for hiring labour (Wage = Marginal Revenue Product of Labor).