paper in question 1. Show what happens to equilibrium if costs of labor is increased by 20%. NOTE You should TWO supply curves and TWO demand curves and equilibrium 1 and equilibrium 2. What is the take away and what does the graph tell us ? You can draw and take a picture. Then upload the picture.paper in question 1. Show what happens to equilibrium if costs of labor is increased by 20%. NOTE You should TWO supply curves and TWO demand curves and equilibrium 1 and equilibrium 2. What is the take away and what does the graph tell us ? You can draw and take a picture. Then upload the picture