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Refer to the attached figure. A. In equilibrium, total worker surplus in this labour market is $ . The surplus per worker employed is $
Refer to the attached figure. A. In equilibrium, total worker surplus in this labour market is $ . The surplus per worker employed is $ B. Suppose the workers bargain collectively for a higher wage. The following wages would lead to an increase in total worker surplus (Enter "1" if yes and "0" if no): $1 ;$2 ;$3 ;$4 ;$5 ;$6 ;$7 ;$8 C. If you were an employed worker in the original equilibrium, what wage would you personally prefer the union to negotiate? Why? Explain the tradeoff workers face here. D. Think about worker characteristics and demographics. What type of worker would be best off when the union negotiates for much higher wages? What sort of worker would be best off when the union negotiates for only small increases in wages
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