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Consider the graph below. Assume that a union enters the labor market. What effect does the union have on the wage? Will this result in

Consider the graph below. Assume that a union enters the labor market.

What effect does the union have on the wage? Will this result in a shift of the demand curve?

The wage falls. There is no shift of the demand curve.

The wage falls. The demand curve shifts to the left.

The wage rises. There is no shift of the demand curve.

The wage rises. The demand curve shifts to the left.

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