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https://scholar.harvard.edu/files/gborjas/files/lechapter4.pdf#:~:text=The%20supply%20curve%20gives%20the%20total%20number%20of,generating%20the%20competitive%20wage%20w%2A%20and%20employment%20E%2A.
https://scholar.harvard.edu/files/gborjas/files/lechapter4.pdf
hours that agents in the economy allocate to the market at any given wage level; the demand curve gives the total number of employee-hours that firms in the market demand at that wage. Equilibrium occurs when supply equals demand, generating the competitive wage w * and employment E * .
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https://open.lib.umn.edu/macroeconomics/chapter/3-3-demand-supply-and-equilibrium/
A Decrease in Demand. Panel (b) of Figure 3.10 “Changes in Demand and Supply” shows that a decrease in demand shifts the demand curve to the left. The equilibrium price falls to $5 per pound. As the price falls to the new equilibrium level, the quantity supplied decreases to …
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