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t. Here is a picture of an initial equilibrium in a competitive labor market for an individual firm. will firm wage and employment levels change

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t. Here is a picture of an initial equilibrium in a competitive labor market for an individual firm. will firm wage and employment levels change IF WORKERS IN THAT FIRM BECOME MORE PRODUCTIVE? (3 points) 1) Draw the new curve ii) Does total employment in the firm increase or decrease? lii) Does the wage rate increase or decrease? Firm 100 Wage Rate MIV - VMP 10 10 12 Labor

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