Suppose that in a competitive output market, firms hire labor from a competitive labor market (so that the profit maximization conditions for hiring labor are as we discussed in class).   If the supply of this kind of labor decreases, we would expect which of the following regarding the equilibrium wage, W, and the equilibrium quantity of labor, L, employed? Group of answer choices a) a decrease in W and a decrease L b) a decrease in W and a decrease L c) an increase in W and a decrease L d) a decrease in W and no change in L e) increase in W and an increase in L

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