Describe how we calculate the percentage decline in national income resulting from the misallocation of labor in

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Describe how we calculate the percentage decline in national income resulting from the misallocation of labor in a model of monopoly unions. What is the dollar value of this allocative inefficiency if unions and firms negotiate an efficient contract and the contract curve is vertical?

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Labor Economics

ISBN: 9781260565522

8th Edition

Authors: George Borjas

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