a. What will happen to a firm's demand for labor if the price of the good it produces falls (or rises)? How will a rise in productivity affect its demand for labor? Explain fully and illustrate your answer with a diagram. What could cause labor productivity to increase? b. Compare the effects of the imposition of a minimum wage in a labor market dominated by a monopsony to that of perfect competition. (Explain with the help of a diagram(s) making use of demand for, and supply of labor.) c. "The demand for labor increased, wages went up as expected, but employment decreased!" Is this possible? (Explain briefly relating to the supply of labor. Use a diagram.) d. "The demand for labor increased, employment increased, but wages remained constant!" Is this possible? (Again, explain briefly with the help of a diagram.)