The Ajax Coal Company is the only employer in its area. Its only variable input is labor, which has a constant marginal product equal to 5. Because it is the only employer in the area, the firm faces a supply curve for labor given by W= 10 + L, where Wis the wage rate and L is the number of person-hours employed. This supply curve yields the marginal factor cost curve MFC = 10 + 24. Suppose the firm can sell all it wishes at a constant price of 8. Instructions: Round your answers to the nearest whole number. a. How much labor does the firm employ, how much output does it produce, and what is the wage? Labor: Output: Wage: $ b. Suppose now the firm sells a special kind of coal such that it faces a downward-sloping demand curve for its output. In particular, assume that Ajax faces the demand curve given by P= 102 - 1.96Q. How much labor does the firm employ, how much output does it produce, what price does it set for the output, and what is the wage? Labor: Output Price: $ Wage: $ c. Assume that Ajax still faces the demand curve P= 102 - 1.96Q, but now further assume that Ajax has five laborers under contract to produce coal at a wage of 15. If Ajax has the option of hiring additional laborers at a higher wage without increasing the wage to the five laborers already under hire, will Ajax increase its labor force? (Click to select) v