Yes. Labour supply is not limitless. So in theory you could treat labour just as any other market good. Therefore, if there's an oversupply of labour, it will b

Yes. Labour supply is not limitless. So in theory you could treat labour just as any other market good. Therefore, if there's an oversupply of labour, it will be cheap. If the supply is short, it will be expensive. There's many important caveats, and I don't claim to represent the Libertarian view fully, but that's the most important thing you are missing.