My dear good expert hand written not allowed. Consider two labor markets, an eastern state and awestern state, that enact different laws governing laborunions.The following graph illustrates the labor market for thestate in the East. Initially, the market-clearing hourlywage is $24. Suppose that the government in thiseastern state passes a law that makes it easier forworkers to become union members. Through a processof collective bargaining, the union negotiates an hourlywage of $28.Use the black point (plus symbol) to show how manyunion workers will be employed at the $28 wage. (Hint:Be sure to place the point on the appropriate curve.)WAGE (Dollars)40363228241612840043Labor Market in the EastIcSupply Union Wage1216 20 24 28LABOR (Millions of workers)32 36 40Union NegotiationsSuESu

A labor marketplace refers to the marketplace wherein people provide their labor offerings, and…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

My dear good expert hand written not allowed.

Consider two labor markets, an eastern state and a
western state, that enact different laws governing labor
unions.
The following graph illustrates the labor market for the
state in the East. Initially, the market-clearing hourly
wage is $24. Suppose that the government in this
eastern state passes a law that makes it easier for
workers to become union members. Through a process
of collective bargaining, the union negotiates an hourly
wage of $28.
Use the black point (plus symbol) to show how many
union workers will be employed at the $28 wage. (Hint:
Be sure to place the point on the appropriate curve.)
WAGE (Dollars)
40
36
32
28
24
16
12
8
4
0
0
4
3
Labor Market in the East
I
c
Supply Union Wage
12
16 20 24 28
LABOR (Millions of workers)
32 36 40
Union Negotiations
Su
E
Su

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