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ow suppose there is a negative labor demand shocks (for example, during COVID-19 restaurants close and no longer hire chefs). That is, consider a decline

ow suppose there is a negative labor demand shocks (for example, during COVID-19 restaurants close and no longer hire chefs). That is, consider a decline in zt. What happens to equilibrium lt and wt. Explain your answer using a labor market diagram as in the previous two questions. I am not looking for a precise numerical

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