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The management of a local motor vehicle manufacturing firm in Durban have negotiated with trade unions to increase the wage rate for workers by 8.5%.

The management of a local motor vehicle manufacturing firm in Durban have negotiated with trade unions to increase the wage rate for workers by 8.5%. Critically discuss the effect of this increase on the equilibrium price and quantity in the motor vehicle manufacturing industry (ceteris paribus). The use of a graph will be essential to support your answer

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