Question
Wage determination and interest income A-What should happen to the number of workers hired if a competitive employer's wages exceed its marginal revenue product (MRP)?
Wage determination and interest income
A-What should happen to the number of workers hired if a competitive employer's wages exceed its marginal revenue product (MRP)?
B-When a Union requires certification to obtain a job, wages that workers receive are raised. Explain why?
C-Suppose that firm A is a monopsony that demands labor and XYZ Union is a monopoly that provides labor. Other things constant, the equilibrium wage and quantity of labor will depend on what factor?
D-Other things constant, at higher interest rates, the demand for capital decreases. Provide one reason why this happens.
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