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Matins steel company makes steel tanker cars in a perfectly competitive labor market and the market price of the steel tanker cars has decreased from
Matins steel company makes steel tanker cars in a perfectly competitive labor market and the market price of the steel tanker cars has decreased from $12,000 to $ 10.000 and wages stay the same. Draw a firm labor curve labeling all of the parts. Label the profit maximizing labor quantity as O_{r} and show the effects of the change in price on the firm labor curve and Q F2 if any
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