ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 12, Problem 4.10P
To determine
The reasons firms in industries with high fixed costs be apt to prevent strikes or end-strikes quickly.
Concept Introduction:
Strike:
This is an industrial action taken up by the employees working in a factory or any industry as a form of protest against certain demands requested by the workforce which has been turned down by the employer.
Fixed cost:
This is a cost that does not vary with the number of units produced.
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