(a) Fill in Table. (b) Is the firm a perfect or an imperfect competitor? Explain. (c) If the wage rate were $115, how many workers would be hired? How much would the total wage bill come to? (d) If the wage rate were $60, how many workers would be hired? How much would the total wage bill come to? (e) How many workers would be hired if the wage rate were $16? (f) How many workers would the firm want to hire if the wage rate were $0? 
Definitions:
Disavow the Contract
The act of denying any responsibility or support for the contract, thereby seeking to void the agreement.
Identified to the Contract
Identified to the Contract refers to goods that have been designated as the subject of a sales or service contract.
Revised UCC Article 1
refers to updates or changes made to the first article of the Uniform Commercial Code, which governs sales and commercial transactions in the United States.
Good Faith
A concept implying honesty in intent and fairness in practice, without any intention to deceive or defraud in a transaction or contractual agreement.
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