Question: The table below shows the quantity demanded and supplied in the labor market for economics professors at State University, where all the professors belong to
The table below shows the quantity demanded and supplied in the labor market for economics professors at State University, where all the professors belong to a union. All of the economics professors could also work as economic consultants, but the market for economic consultants is not unionized.
tableAnnual Salary,Quantity of workersdemanded
If the union negotiates an annual salary increase for economics professors that is $ higher than the market wage rate for economic consultants, then the market wage rate for the consulting positions will and the quantity of economic consultants employed will
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