The economic rent associated with the employment of labor is the excess(超额量)of wages paid above the minimum amount needed to hire workers. The equilibrium wage is given by A,at the intersection of the labor supply and labor demand curves. Because the supply curve (AE)is upward sloping,some workers would have accepted jobs for a wage less than w*.The area ABw* is the economic rent received by all workers. The economic rent associated with the employment of labor is the excess (超额量) of wages paid above the minimum amount needed to hire workers. The equilibrium wage is given by A, at the intersection of the labor supply and labor demand curves. Because the supply curve (AE) is upward sloping, some workers would have accepted jobs for a wage less than w*. The area ABw* is the economic rent received by all workers