Question 12 Today unions only exist in which sectors of the economy? O physicians O monopsonistic competition O steel workers O auromobile workers Question 13 Physicians would be considered to be members of a O industrial union O inclusive union Ocraft union O monopsony

Question 12 Today unions only exist in which sectors of the economy? O physicians O monopsonistic competition O steel workers O auromobile workers Question 13 Physicians would be considered to be members of a O industrial union O inclusive union Ocraft union O monopsony

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter19: Labor And Entrepreneurship: The Human Inputs

Section: Chapter Questions

Problem 7DQ

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The diagram provides supply and demand curves for a competitive labour market it a labour union negobates the wage to W, in an otherwise competitive labour market OA employers will hire L, labour OB. employers will here labour at the level higher than L OC. the supply of labour will stay the same OD equilibrium will occur at W, and L OE the demand for labour will stay the same 0 Wage Rate W₁ Quarnty of Labour Supply Demand
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Why did labor have little say in old firm operations? Too much capital O Too much demand O Too much supply O Too much regulation
Which of the following is a method used by unions to increase the demand for their members' labor? O A. Decrease the marginal product of union members. O B. Oppose minimum wage laws. OC. Oppose immigration restrictions. O D. Support import restrictions. O E. Increase imported goods and services
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Other than the demand for labor, what would be another example of a 'derived demand?
Table 14.12 shows the quantity demanded and supplied in the labor market for driving city buses in the town of Unionville, where all the bus drivers belong to a union. What would the equilibrium wage and quantity be in this market if no union existed? Assume that the union has enough negotiating power to raise the wage to 4 per hour higher than it would otherwise be. Is there now excess demand or excess supply of labor?
What determines the demand for labor for a firm operation in a perfectly competitive out market?