Wage rate Wo W₁ W₂ S₁ S2 D. D2 L₁ Lo L2 Workers In the figure above, suppose that a given industry has LO workers, each of whom earns wage WO. Suppose that the workers negotiate a benefit package that costs $z per worker, and is worth $0 per worker. The new labor market equilibrium will be at: O a. money wage W2; labor force, LO. b. money wage W1; labor force, LO. c. money wage WO; labor force, LO. O d. money wage W1; labor force, L1.

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