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Explain how the introduction of a union will affect total employment under each of the following conditions.
a perfectly competitive labor market with all firms becoming unionized.
a perfectly competitive labor market with some, but not all firms, becomeing unionized.
a monopsony market.
Explain how the introduction of a union will affect total employment under each of the following conditions.
a perfectly competitive labor market with all firms becoming unionized.
a perfectly competitive labor market with some, but not all firms, becomeing unionized.
a monopsony market.
24 May 2023
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Nelly StrackeLv2
19 Mar 2019
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Economic theory unambiguously predicts that total employment will be reduced when an effective minimum wage law is introduced:
| A. |
in a monopsony labor market. |
|
| B. |
in a perfectly competitive labor market if all workers in this market are covered by the minimum wage law. |
|
| C. |
in a perfectly competitive market, even if some workers and firms are not covered by the minimum wage law. |
|
| D. |
under no circumstances |
