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Assess the following statement for a competitive firm operating in the long-run in a sector which has been affected by a negative supply shock to
Assess the following statement for a competitive firm operating in the long-run in a sector which has been affected by a negative supply shock to its labour market due to the Covid-19 pandemic:
"As result of the negative supply shock to its labour market, this competitive firm will use less of both workers and capital relative to the inputs of production levels before the Covid- pandemic"
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