If the bargaining power in a bilateral monopoly for labor is relatively greater for the seller than the buyer, the wage is likely to be:

Question

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In a bilateral monopoly with greater bargaining power for the seller (labor in this case), the seller is likely to negotiate closer to the wage sought by them. This is because the buyer (employer) has less bargaining power and is likely to concede more to avoid losing the seller to other buyers. Thus, the wage is likely to be closer to the wage sought by the sellers. Option A correctly reflects this scenario.

If the Bargaining Power in a Bilateral Monopoly for Labor