Question: 3. Based on the data in Problems 1 and 2 above, (a) What is the competitive wage rate? (b) Approximately what wage will the union

3. Based on the data in Problems 1 and 2 above,

(a) What is the competitive wage rate?

(b) Approximately what wage will the union seek?

(c) How many workers will the union have to exclude in order to get that wage?

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