Answered: Occupational licensing has much the…

Occupational licensing has much the same effect as: Select one: a) monopsony b) inclusive unionism c) exclusive unionism d) bilateral monopoly e) oligopoly

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter27: Wages, Unions, And Labor

Section: Chapter Questions

Problem 3QP

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Question

Occupational licensing has much the same effect as:

Select one:

a) monopsony

b) inclusive unionism

c) exclusive unionism

d) bilateral monopoly

e) oligopoly

Definition Definition Market structure in which a single company dominates the entire industry. In a monopoly market, there are no close substitutes for the goods and services offered by the monopoly.

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