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-Refer to the Above Figure L4\mathrm { L } _ { 4 }

Question 174

Multiple Choice

   -Refer to the above figure.Suppose there are  \mathrm { L } _ { 4 }  workers in the union.If the union wants to set a wage rate of  \mathrm { W } _ { 3 }  ,it must A) determine which of its members will earn  \mathrm { W } _ { 3 }  and which will earn  \mathrm { W } _ { 1 }  . B) accept that  \mathrm { L } _ { 4 }  -  \mathrm { L } _ { 2 }  members will not be able to find work in the industry. C) accept that  \mathrm { L } _ { 3 }  -  \mathrm { L } _ { 2 }  workers will have to get a lower wage equal to  \mathrm { W } _ { 2 }  and  \mathrm { L } _ { 4 }  -  \mathrm { L } _ { 3 }  workers will have to get a wage of  \mathrm { W } _ { 1 }  . D) determine the most efficient way to get the firms to accept the wage and hire all  \mathrm { L } _ { 4 }  workers.
-Refer to the above figure.Suppose there are L4\mathrm { L } _ { 4 } workers in the union.If the union wants to set a wage rate of W3\mathrm { W } _ { 3 }
,it must


A) determine which of its members will earn W3\mathrm { W } _ { 3 } and which will earn
W1\mathrm { W } _ { 1 } .
B) accept that L4\mathrm { L } _ { 4 } -
L2\mathrm { L } _ { 2 } members will not be able to find work in the industry.
C) accept that L3\mathrm { L } _ { 3 } -
L2\mathrm { L } _ { 2 } workers will have to get a lower wage equal to
W2\mathrm { W } _ { 2 } and
L4\mathrm { L } _ { 4 } -
L3\mathrm { L } _ { 3 } workers will have to get a wage of
W1\mathrm { W } _ { 1 } .
D) determine the most efficient way to get the firms to accept the wage and hire all L4\mathrm { L } _ { 4 } workers.

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