a. Explain how OUR Walmart would attempt to counteract Walmart’s wage offers in a bilateral monopoly.

b. Explain how the wage rate would be determined if the market were a bilateral monopoly.

Walmart announced it will pay 500,000 workers at least $9 an hour from April 2015 and at least $10 an hour from February 2016. The union-backed group OUR Walmart took credit for the company’s announcement, but a leader of the group said the improved wages fell short of what was needed. Black Friday protesters were demanding $15 an hour.