3. Describe wage determination in a labour market in which workers are unorganized and many firms actively compete for the services of labour. Show this situation graphically, using W1 to indicate the equilibrium wage rate and Q1 to show the number of workers hired by the firms as a group. Show the labour supply curve of the individual firm and compare it with that of the total market. Why are there differences? In the diagram representing the firm, identify total revenue, total wage cost, and revenue available for the payment of non-labour resources. [LO17.2]