(Using diagram and mathematical functions) Assume that an oil firm (Exxon Mobil Canada) is considering its short-run demand for labour. The price ($ U.S. per barrel (bbl) of Brent) of oil has fallen from $110/bbl to $45/bbl. How specifically might this fall in price affect the firm's demand for labour?(10 marks)

b. Are some Exxon Mobil Canada employees more likely to be laid off thanothers? Provide an explanation for this phenomenon.(5 marks)

c .How might your analysis change in thelong-run?(10 marks

)d. How would the competitive structure of the oil market impact the firm's labour demand decisions