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The workers organize and form a union. The union negotiates a wage of $10 rather than the wage you calculated in part c. Using the
The workers organize and form a union. The union negotiates a wage of $10 rather than the wage you calculated in part c. Using the same labor supply and labor demand functions as above, how many workers want to work at the new wage? How many workers does the firm want to hire at the new wage? Is there a surplus or a shortage of workers at the new union-established wage? Explain
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