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Consider the two labour market scenarios pictured. A. Fill in the chart if the union fixes wages $2 above the competitive level. Enter numerical values only. Market A Market B Unemployment created Adverse employment effect Deadweight loss created $ $ B. Fill in this chart for market A if the union fixes wages $2 above the competitive level. Enter numerical values only. Note that although 10 percent is represented as 0.10 when no percent sign is used, it is written as 10% when a percent sign is used. (So be careful how you report values before a percent sign: 0.10 % is entering "one tenth of a percent" not "ten percent.") Before After Total Surplus in A $ $ Firm Surplus in A $ I$ Firm surplus as percent of total surplus: % Worker Surplus in A $ $ Worker surplus as percent of total surplus: In this case the deadweight loss is of the original total surplus size. C. Now fill in this chart for market B if the union fixes wages $1 above the competitive level. Enter numerical values only. Note that although 10 percent is represented as 0.10 when no percent sign is used, it is written as 10% when a percent sign is used. (So be careful how you report values before a percent sign: 0.10% is entering "one tenth of a percent" not "ten percent.") Before After Total Surplus in B $ $ Firm Surplus in B $ $ Firm surplus as percent of total surplus: % % Worker Surplus in B $ $ Worker surplus as percent of total surplus: % In this case the deadweight loss is of the original total surplus size. D. Explain in markets A and B whether increasing by $2 is beneficial from the workers' perspective. What about by $1? Do you think unions raising wages (by some amount) in either of these markets is appropriate from a wider perspective? List what factors have you taken into account in determining why or why not