It is argued that a localized industrial cluster of firms can enjoy external economies by creating a pooled market for workers with highly specialized skills. In what ways can such a pooled labor market be advantageous and who could benefit? Labor market pooling can a. increase the likelihood of unionization leading to higher wages and benefits for workers at the expense of producers. b. reduce the likelihood of unionization by workers leading to lower wages and benefits to the benefit of producers. c. reduce the likelihood of labor shortages for producers and unemployment for workers. d. increase the likelihood of job retention and improved productivity among workers to the benefit of producers.
It is argued that a localized industrial cluster of firms can enjoy external economies by creating a pooled market for workers with highly specialized skills. In what ways can such a pooled labor market be advantageous and who could benefit? Labor market pooling can a. increase the likelihood of unionization leading to higher wages and benefits for workers at the expense of producers. b. reduce the likelihood of unionization by workers leading to lower wages and benefits to the benefit of producers. c. reduce the likelihood of labor shortages for producers and unemployment for workers. d. increase the likelihood of job retention and improved productivity among workers to the benefit of producers.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: Earnings And Discrimination
Section: Chapter Questions
Problem 3CQQ
Related questions
Question
100%
It is argued that a localized industrial cluster of firms can enjoy external economies by creating a pooled market for workers with highly specialized skills. In what ways can such a pooled labor market be advantageous and who could benefit?
Labor market pooling can
a. increase the likelihood of unionization leading to higher wages and benefits for workers at the expense of producers.
b. reduce the likelihood of unionization by workers leading to lower wages and benefits to the benefit of producers.
c. reduce the likelihood of labor shortages for producers and
d. increase the likelihood of job retention and improved productivity among workers to the benefit of producers.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
