Consider the housing construction industry. Assume that the industry is perfectly competitive in both input and output markets. Suppose that, through collective bargaining, a labor union negotiates an industry-wide wage for various kinds of laber it succeeds in negotiating a wage increase for carpenters from $9 to $12 per hour. The following graph shows the labor demand of an individual firm. On the following graph, show what happens at the firm level as a result of the union negotiations. Now consider the effects of the wage change on the entire industry. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. The union's wage increase from $9 to $12 per hour causes an excess supply of workers. (Note: Be sure to enter your answer in thousands of workers.) Suppose that the union, in order to mitigate the unemployment caused by the wage increase, bolsters demand beling campaign. If the union spends $3 million on the campaign, the excess supply of labor will be workers. (Note: Be sure to enter your answer in thousands of workers.) Consider the housing construction industry. Assume that the industry is perfectly competitive in both input and output markets. Suppose that, through collective bargaining, a labor union negotiates an industry-wide wage for various kinds of laber it succeeds in negotiating a wage increase for carpenters from $9 to $12 per hour. The following graph shows the labor demand of an individual firm. On the following graph, show what happens at the firm level as a result of the union negotiations. Now consider the effects of the wage change on the entire industry. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. The union's wage increase from $9 to $12 per hour causes an excess supply of workers. (Note: Be sure to enter your answer in thousands of workers.) Suppose that the union, in order to mitigate the unemployment caused by the wage increase, bolsters demand beling campaign. If the union spends $3 million on the campaign, the excess supply of labor will be workers. (Note: Be sure to enter your answer in thousands of workers.)