The union's wage increase from $9 to $12 per hour causes an excess supply of workers. (Note: Be sure to enter your answer in thousands of workers.) Suppose that the union, in order to mitigate the unemployment caused by the wage increase, bolsters demand by rolling out a "Buy Union" advertising campaign. If the union spends $3 million on the campaign, the excess supply of labor will be workers. (Note: Be sure to enter your answer in thousands of workers.)

The union's wage increase from $9 to $12 per hour causes an excess supply of workers. (Note: Be sure to enter your answer in thousands of workers.) Suppose that the union, in order to mitigate the unemployment caused by the wage increase, bolsters demand by rolling out a "Buy Union" advertising campaign. If the union spends $3 million on the campaign, the excess supply of labor will be workers. (Note: Be sure to enter your answer in thousands of workers.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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