When the collective bargaining process fails to produce an acceptable contract, the union can attempt to extract a higher wage from a monopsonist by

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Going on strike is a common tactic used by unions when collective bargaining fails. It puts pressure on the employer (in this case, a monopsonist who is the sole buyer of labor) by halting production, which can motivate the employer to offer better terms to end the strike.

When the Collective Bargaining Process Fails to Produce an Acceptable