1) Inspect the non-wage determinants of the demand for and the supply of labor; make sure they are set to their original values. A. What is the

1) Inspect the non-wage determinants of the demand for and the supply of labor; make sure they are set to their original values. A. What is the equilibrium market wage rate? How is it determined? B. What is the profit-maximizing level of hiring for the firm? How is it determined? C. What is the equilibrium quantity of labor hired in the market? Does it make sense given the number of firms?

 
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