Question: In Figure, the contract curve is PZ. a. Does point Prepresent the firm or the workers having all of the bargaining power? Does point Z

In Figure, the contract curve is PZ. a. Does

In Figure, the contract curve is PZ. a. Does point Prepresent the firm or the workers having all of the bargaining power? Does point Z represent the firm or the workers having all of the bargaining power? Explain. b. Suppose the union has the power to be a monopoly union in setting wages if it chooses, but it doesn't have the power to force a wage and an employment level on the firm. On what portion of the contract curve PZ would you expect the bargained wage-employment contract to occur

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