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FIGURE 14-6 -Refer to Figure 14-6.The Market Begins in Equilibrium with the with the Curves

Question 89

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FIGURE 14-6 -Refer to Figure 14-6.The market begins in equilibrium with the curves labelled Demand and Supply.If a labour union negotiates the wage to W<sub>2</sub>,the difference between this wage and the competitive equilibrium wage is called A) the industry's wage premium. B) the union wage premium. C) a temporary wage differential. D) a discrimination differential. E) a legislated wage differential. FIGURE 14-6
-Refer to Figure 14-6.The market begins in equilibrium with the curves labelled Demand and Supply.If a labour union negotiates the wage to W2,the difference between this wage and the competitive equilibrium wage is called


A) the industry's wage premium.
B) the union wage premium.
C) a temporary wage differential.
D) a discrimination differential.
E) a legislated wage differential.

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