Question: Suppose that for given labor-market conditions [the variable you identified in part (b)], worker bargaining power throughout the economy increases. What effect would this have

Suppose that for given labor-market conditions [the variable you identified in part (b)], worker bargaining power throughout the economy increases. What effect would this have on the real wage in the medium run? in the short run? What determines the real wage in the model described in this chapter?

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