Suppose that the retail food industry in Miami is in long-run equilibrium. Assume further that the firms

Question:

Suppose that the retail food industry in Miami is in long-run equilibrium.

Assume further that the firms in this market—supermarkets—only use union labor. Using two graphs—one for the supermarket market and another for a typical supermarket—show what happens to equilibrium food prices when Walmart Supercenters (which sell groceries and do not employ union workers)

are permitted to open in Miami. What will the impact be on a typical unionized supermarket? If you were a consultant to Piggly Wiggly, a unionized supermarket chain, what would your recommendation be? Explain your answers.

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