At the competitive wage of $20 per hour, firms A and B both hire 5,000 workers (each
Question:
(a) What is the employment effect at firm A? How has total worker income changed?
(b) What is the employment effect at firm B? How has total worker income changed?
(c) How much would the workers at each firm be willing to pay in annual union dues to achieve the 12 percent gain in wages?
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