Other things being equal,how does the labor demand curve of a firm that is not perfectly competitive in the product market (that is,the firm has some ability to set product price)differ from the labor demand curve of a firm that sells in a perfectly competitive product market? Suppose that the equilibrium wage rate increases from $15 per hour to $18 per hour.Discuss the response likely to be observed at each type of firm.Comment specifically on and explain the responses in employment likely to be observed.

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The Answer of Other things being equal,how does the labor demand curve of a firm that is not perfectly competitive in the product market (that is,the firm has some ability to set product price)differ from the labor demand curve of a firm that sells in a perfectly competitive product market? Suppose that the equilibrium wage rate increases from $15 per hour to $18 per hour.Discuss the response likely to be observed at each type of firm.Comment specifically on and explain the responses in employment likely to be observed.

Other Things Being Equal,how Does the Labor Demand Curve of a Firm