11:14Chegg Home Expert Q&A My solutionsStudent question9. A firm in a competitive labor market sees an increasein wages. What happens to their level of capital andlabor in the long-run? (For all answer increase, decrease,not applicable or ambiguous)a. The substitution effect will cause capital to?b. The scale effect will cause capital to?The total effect on capitald. The substitution effect will cause labor to_?e. The scale effect will cause labor tof. The total effect on labor7expert.chegg.com/qna/authoring/ :Time Left: 01:59:30<기??Gم | 0O0Vol) 1LTE2Tag the question → Step-by-step →SubjectEconomicsSub-subject4G ll.ll3Search And Select|||=@Ť

The competitive market has a large number of sellers and buyers in the market exchanging goods and…

11:14 Chegg Home Expert Q&A My solutions Student question expert.chegg.com/qna/authoring/ Time Left: 01:59:30 9. A firm in a competitive labor market sees an increase in wages. What happens to their level of capital and labor in the long-run? (For all answer increase, decrease, not applicable or ambiguous) a. The substitution effect will cause capital to _? b. The scale effect will cause capital to ? c. The total effect on capital. d. The substitution effect will cause labor to _? e. The scale effect will cause labor to f. The total effect on labor ? OT 0 2 4G | .... - Vol 1 LTE2 | | Tag the question Step-by-step → Subject Economics Sub-subject Search And Select