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Can you please assist with the attached questions? (c) Bob's Barber Shop hires barbers in a perfectly competitive labor market 1 point for barbers at

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Can you please assist with the attached questions?

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(c) Bob's Barber Shop hires barbers in a perfectly competitive labor market 1 point for barbers at a wage rate of $25 per hour, and the market price of haircut services remains $9. How many barbers will Bob's Barber Shop hire to maximize its profit? Explain using marginal analysis. Your answer (d) Assume there is an increase in the demand for haircut services in the market. What will happen to each of the following? (i) The market wage rate. Explain. 1 point Your answer (ii) The marginal revenue product curve for Bob's Barber Shop. Explain. 1 point Your

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