Use the following figure to answer the question : Figure 17-2 : shows the demand [D],marginal revenue [MR],and supply [S] curves in the market for labor.

-Refer to Figure 17-2.If union members cartelize the supply side of the market,_____ workers are employed at a wage of .

Question

Use the following figure to answer the question : Figure 17-2 : shows the demand [D],marginal revenue [MR],and supply [S] curves in the market for labor.

-Refer to Figure 17-2.If union members cartelize the supply side of the market,_____ workers are employed at a wage of .

Quizplus · Accepted Answer

Without access to Figure 17-2, the correct answer cannot be determined based on the provided options, as they contain placeholder text (e.g., L₁) instead of actual values or descriptions. However, when unions cartelize the supply side of the labor market, they typically aim to reduce the supply of labor to increase wages, which can lead to fewer workers being employed at a higher wage. This general outcome aligns with the principles of supply and demand in labor markets.

Use the Following Figure to Answer the Question : Figure