English Language and Literature homework help. Suppose that output market is in a perfect competition with the price of $10 per unit. And suppose that the industry labor supply curve is given as below assuming that labor is the only input.L MP W1 20 202 18 403 16 604 14 805 12 1006 10 1207 8 1408 6 1609 4 18010 2 200a. What are the employment level and the wage rate for this industry if this industry is in a perfectly competitive input market?b. Suppose that the minimum wage of $140 per unit labor is imposed. What is the employment level for this industry(1) if this industry is under a perfectly competitive input market,(2) if this industry is in a monopsony?

English Language and Literature homework help