Final answer:
In a perfectly competitive labor market, a worker willing to work at the equilibrium wage rate can instantly find work, as the labor market will be in balance with the quantity of labor demanded equaling the quantity supplied.
Step-by-step explanation:
If the labor market is perfectly competitive, then the statement that is true is that a worker willing to work at the equilibrium wage rate can instantly find work.
This is because in a perfectly competitive labor market, there is a balance achieved when the quantity of labor demanded by employers equals the quantity of labor supplied by workers, at the current wage rate. This balancing wage is known as the equilibrium wage.
Both the labor demand curve and the labor supply curve reflect the relationship between the wage rate and the quantity of labor. The labor demand curve is downward-sloping, indicating that higher wages lead to a decrease in the quantity of labor demanded, while the labor supply curve is upward-sloping, meaning that higher wages lead to an increase in the quantity of labor supplied.