Consider the early1970s when an oil price shock roiled the U.S. economy, including the labour market. Consider an automotive company that has been negatively impacted by the sudden increase in oil, and the lasting impact it had on automobile demand.(a) How might this shock impact the demand and supply of labour in the automobile company? Illustrate the labour demand and supply curve for the effect of an oil price shock on automobile demand. Clearly label the curve, including the axis.(b) Assume that employees at the automobile company are unionized. Explain how this would change wages and labour demand. Illustrate this effect of unionized work on the labour demand and supply curve, still assuming the oil price shock.