Consider a competitive labor market below.
Which of the following statements is accurate?
a. If we are in equilibrium, total payment to workers in this labor market is $3,000 per period.
b. If the wage were below $15, there would be an excess supply for workers.
c. If the wage were $15 right now, it would tend to rise quickly.
d. The highest wage that any employer is willing to pay the 200ᵗʰ worker is higher than $15.