Figure 14.3 A Labor Union Is Exercising Monopoly Power in the Labor

question 53

Multiple Choice

Figure 14.3
A labor union is exercising monopoly power in the labor market.
-Refer to Figure 14.3. To maximize economic rent, the labor union will agree to wage rate:

• A) W₀.
• B) W₁.
• C) W₂.
• D) W₃.
• E) none of the above

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