Option 1 -> Incorrect. If labour demand is zero, no firms want to hire workers - this is not equilibrium.
Option 2 -> Correct. Market equilibrium occurs where quantity demanded equals quantity supplied.
Option 3 -> Incorrect. This implies no workers and no jobs exist, which is not a realistic market equilibrium.
Option 4 -> Incorrect. This confuses the profit-maximizing condition for firms with market equilibrium.
Hence, Option 2: Labour Demand = Labour Supply -> In any competitive market, equilibrium is achieved at the point where the quantity demanded equals the quantity supplied. At this wage rate, the number of workers firms wish to hire exactly matches the number of workers willing to work. Any wage above this creates unemployment (excess supply), and any wage below creates labor shortage (excess demand). -> correct