Label axes and curves Suppose a monopoly union raises wages in this sector by $3 -...

  

Transcribed Image Text:

Label axes and curves Suppose a monopoly union raises wages in this sector by $3 - Identify the new contract - Label Wo and W₁ - Identify key measurements What would change if some workers wait in unemployment? What would change if the union and firm negotiate efficient contracts? 10 9 8 7 6 () LO 5 4 3 2 1 0 1 # 2 3 4 5 6 7 8 9 10 Label axes and curves Suppose a monopoly union raises wages in this sector by $3 - Identify the new contract - Label Wo and W₁ - Identify key measurements What would change if some workers wait in unemployment? What would change if the union and firm negotiate efficient contracts? 10 9 8 7 6 () LO 5 4 3 2 1 0 1 # 2 3 4 5 6 7 8 9 10