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Labor Economics 5th Edition by George Borjas
Edition 5ISBN: 978-0073511368Labor Economics 5th Edition by George Borjas
Edition 5ISBN: 978-0073511368 Exercise 11
Suppose the firm's labor demand curve is given by:
w = 20 - 0.01 E ,
where w is the hourly wage and E is the level of employment. Suppose also that the union's utility function is given by
U = w × E.
It is easy to show that the marginal utility of the wage for the union is E and the marginal utility of employment is w. What wage would a monopoly union demand How many workers will be employed under the union contract
w = 20 - 0.01 E ,
where w is the hourly wage and E is the level of employment. Suppose also that the union's utility function is given by
U = w × E.
It is easy to show that the marginal utility of the wage for the union is E and the marginal utility of employment is w. What wage would a monopoly union demand How many workers will be employed under the union contract
Explanation
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The slope of indifference curve and the ...
Labor Economics 5th Edition by George Borjas
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