Graph Input Tool (? Market for Labor 16 I Wage (Dollars per hour) 8.00 14 Supply Labor Demanded (Thousands of workers) Labor Supplied (Thousands of workers) 800 800 12 10 Demand 200 400 600 800 1000 1200 1400 1600 LABOR (Thousands of workers) WAGE (Dollars per hour) Graph Input Tool Market for Labor 16 I Wage (Dollars per hour) 10.00 Supply 14 Labor Demanded (Thousands of workers) Labor Supplied (Thousands of workers) 600 1,000 12 10 8 Demand 200 400 600 800 1000 1200 1400 1600 LABOR (Thousands of workers) WAGE (Dollars per hour)

Graph Input Tool (? Market for Labor 16 I Wage (Dollars per hour) 8.00 14 Supply Labor Demanded (Thousands of workers) Labor Supplied (Thousands of workers) 800 800 12 10 Demand 200 400 600 800 1000 1200 1400 1600 LABOR (Thousands of workers) WAGE (Dollars per hour) Graph Input Tool Market for Labor 16 I Wage (Dollars per hour) 10.00 Supply 14 Labor Demanded (Thousands of workers) Labor Supplied (Thousands of workers) 600 1,000 12 10 8 Demand 200 400 600 800 1000 1200 1400 1600 LABOR (Thousands of workers) WAGE (Dollars per hour)

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter26: Factor Markets: With Emphasis On The Labor Market

Section26.1: Factor Markets

Problem 2ST

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Question

Consider two states that adopt different laws concerning labor unions.

The following graph shows the labor market in a state in the North. Initially, the market-clearing wage there is $8.00 per hour.

Suppose that the legislature in this northern state passes laws that make it easy for workers to join a union. Through collective bargaining, the union negotiates a wage of $10.00 per hour.

At the union wage, how many union workers will be employed?

Graph Input Tool
(?
Market for Labor
16
I Wage
(Dollars per hour)
8.00
14
Supply
Labor Demanded
(Thousands of workers)
Labor Supplied
(Thousands of workers)
800
800
12
10
Demand
200
400
600 800 1000 1200 1400 1600
LABOR (Thousands of workers)
WAGE (Dollars per hour)

Graph Input Tool
Market for Labor
16
I Wage
(Dollars per hour)
10.00
Supply
14
Labor Demanded
(Thousands of workers)
Labor Supplied
(Thousands of workers)
600
1,000
12
10
8
Demand
200
400
600
800
1000 1200 1400 1600
LABOR (Thousands of workers)
WAGE (Dollars per hour)

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