Units of Labor Wage Total Wage MWC MRP VMP ... Cost 1 1 6. 3 4 4 4 4 3 6. 2 2 1. What is the degree of competition in labor market S and product market SS? (limit your answer in just 1 sentence) 2. What is the profit-maximizing level of employment? (just type the value) Explain in 1 sentence. 3. Does this profit-maximizing level of employment yield allocative efficiency? Explain in_just 1 sentence.

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