How would the wage rate and employment for the Rustenburg miners be determined in a competitive market?
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Impala Platinum has sacked 17,000 South African miners at its Rustenburg mine because they took part in an illegal strike. The miners refused to have their union negotiate in the two-week pay dispute with the world’s second largest platinum producer. Mining provides a quarter of all jobs in Rustenburg
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In a competitive labor market the wage rate and employment ar...View the full answer
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