The figure below illustrates the two sides of the labour market. Labour supply Y Average product of labour, A Real wage X Price-setting curve Wage-setting curve No work done: wage is too low for adequate effort Employed Unemployed Employment, N Which of the following statements appropriately explains the figure above? O a. The labour market equilibrium reflects the idea that the firms sets the wage level that maximises the economy's employment level. O b. Immigration shifts the labour supply curve to the left. O c. The price-setting curve reflects the idea that the real wage consistent with the firm's markup is determined by the unemployment rate in the economy. O d. The labour market equilibrium is point Y. O e. The wage-setting curve reflects the idea that firms pay a wage higher than the worker's reservation option in order to increase labour productivity