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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

What is the effect of labor unions on nonunion wage rates?

To determine

Explain the effect of labor unions on nonunion wage rates.

Explanation

The collective bargaining of the unions increases the wage rate in a unionized sector. As the wages increase, the demand for labor will reduce. Therefore, the supply of labor will be higher than the demand for labor. In such a situation, the excess labor force will move from unionized sector to nonunionized sector...

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