Next three questions are based on the data given below. calculate the necessary values and answer the following: labor wage rate tpl mpl vmpl tfcl mfcl 1 5 10 2 6 18 3 7 24 4 8 28 5 10 31 6 12 33 7 15 34 10. this firm sells its output in a competitive market where the market price of its product is $6.00. the firm will attain equilibrium when it hires a. 2 workers and pay them $6.00 per hr. b. 3 workers and pay them $7.00 per hr. c. 4 workers and pay them $8.00 per hr. d. 5 workers and pay them $10.00 per hr. ** e. 5 workers and pay them $18.00 per hr. 11. if workers form a union, they will demand a wage rate as high as if the firm does not meet union’s demand, an arbitrator might fix the wage rate a. $15.00; $6.00 a. $50.00; $18.00 b. $18; $12.00 ** c. $18; $10 12. if arbitration succeeds, employer’s total cost of hiring will increase by a. $50.00 a. $22.00 ** b. $18.00 c. $2.00