Exhibit 11-12 A monopsonist
In Exhibit 11-12, suppose this labor market is unionized by a powerful union which forces a wage of $35 upon the industry. The firm would respond by hiring ____ workers and paying a wage of ____.
A) 40; $35
B) 60; $30
C) 70; $27
D) 60; $35
Correct Answer:
Verified
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