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5. Question #5-Score (5+ 734 Consider-the-demand-and-supply-of.labor..-Businesses-demand.labor; households.supply-labor.-.The-labor. demand-curve-is-downward sloping, meaning that-as.wages-fell, the quantity-demanded-(by-firms)-of-labor.hours increases. ..Likewise,the.labor-supply-curve.is-upward-sloping -meaning.that as-wages-rise, the quantity-supplied. of-labor-(by-households)-increases.-Any-variable-other-than the wage.shifts either-the-labor-demand-curve.or- labor-supply-curve.rightward-or leftward.-.See-the sample diagram-below.-(3 points, as indicated per-question) 7 Wagen Q [labor .hours)1 Now, let's-use this new-knowledge-to explain-an-oft-observed.curiosum!" (a]- Suppose-a-business-makes-a.job-seem-fun-(e.g., .free.lunches).or-at least-safe-(e.g., -nagging.the city-police.to- patrol.frequently.the-inner-city-factory)...Would-that-affect.the-demand-or-supply.curve-of.labor?.(1.point)-(-0 Answer:" (b) . Which-way-would-the-curve.you-identified-in-(a)-shift?.Right-or-left?.(1.point)-(-9 Answer: (c)- what would happen-to-the-equilibrium-wage-as per-your-answer-in-(b)?-so-what happens, in general-to-the. equilibrium-wage-in-work-environments-that-are-a-"great-place-to-work"?-.(.5-points}-(-4 Answer: 1