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Exhibit 27-8 ​

Question 84

Multiple Choice

Exhibit 27-8
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Exhibit 27-8 ​ -Refer to Exhibit 27-8. Suppose that initially there is no collective bargaining and the monoposonist maximizes profit. Then the workers form a union and negotiate a wage of W<sub>3</sub>. What will happen to the total wage bill? A) It will definitely rise. B) It will definitely fall. C) It will definitely stay the same. D) It may rise, fall, or remain the same.
-Refer to Exhibit 27-8. Suppose that initially there is no collective bargaining and the monoposonist maximizes profit. Then the workers form a union and negotiate a wage of W3. What will happen to the total wage bill?


A) It will definitely rise.
B) It will definitely fall.
C) It will definitely stay the same.
D) It may rise, fall, or remain the same.

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