In Figure 45.5, where one union is bargaining against one employer, the wage paid to workers will be 
Figure 45.5
A. W2.
B. W1.
C. W*.
D. an undetermined point between W1 and W2.
Answer: D
You might also like to view...
A rightward shift of the Mexican demand curve for foreign exchange will
a. decrease the price of foreign exchange in Mexico b. increase the value of the peso c. make foreign goods less expensive in terms of pesos d. make foreign goods more expensive in terms of pesos e. make Mexican goods more expensive in terms of foreign exchange
Economic choice and competitive behavior are the result of
a. scarcity. b. poverty. c. public ownership of resources. d. private ownership of resources.
When the minimum efficient scale occurs at a high level of industry output
A. the firms in the industry will be producing in the diseconomies of scale portion of the curve. B. there will only be a few firms in the industry. C. there will be a lot of firms in this industry. D. the government will have to take over the production of the good since it will be unprofitable for firms.
Saving is negative when disposable income is less than
A. 2000.
B. 3000.
C. 4000.
D. 5000.