Answer each of the following questions using economic theory covered in this lesson.
See the table below, and answer each of the questions.

a. If the market represented in exhibit above is allowed to operate freely, total employment in the market will be
b. If a union raises the wage to $4, total employment in the market will be
c. The approximate total surplus of labor after the union wage is
d. If the market is allowed to operate freely, total employment by the typical employer (illustrated in the right-hand panel) will be
d. If a union raises the market wage to $4, total employment by the firm (in the right-hand panel) willbe 

Transcribed Image Text:

Labor Market sA Typical Employer s=MRC 2 d MRP Labor/t 0 600 720 800 Labor/t 10 12