a. Pedro is more likely to join a union if he is looking for employment in a field in which employers tend to pay efficiency wages. in which few employers have monopsony power. in which there are many employers and many employment options. O in which pay-for-performance compensation is common. b. How might Pedro benefit from joining a labor union? Select all that apply.
a. Pedro is more likely to join a union if he is looking for employment in a field in which employers tend to pay efficiency wages. in which few employers have monopsony power. in which there are many employers and many employment options. O in which pay-for-performance compensation is common. b. How might Pedro benefit from joining a labor union? Select all that apply.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Wages, Workers, and Management
End of Chapter Problem
Pedro has just graduated from college and is entering the job market.
a. Pedro is more likely to join a union if he is looking for employment in a field
in which employers tend to pay efficiency wages.
O in which few employers have monopsony power.
in which there are many employers and many employment options.
in which pay-for-performance compensation is common.
b. How might Pedro benefit from joining a labor union? Select all that apply.
He and his fellow union workers might have improved communication with management.
He could be guaranteed promotions and certain vacation days during his first five years of employment.
He could receive higher wages as compared to non-union workers in the same job field.
He and his fellow union workers would be exempt from special skills and safety training and therefore would be more
productive.
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If few companies had monopsony power couldn't he just go to a different employer?
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