If a Monopsony Must Negotiate with a Union, Then the Wage

question 35

Multiple Choice

If a monopsony must negotiate with a union, then the wage will probably be

• A) the same as if there had been no union.
• B) more than the marginal cost of labour.
• C) more than the value of marginal product.
• D) more than what it would have been without a union but not more than the value of marginal product.

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Definitions:

Existential Import

The implication that a statement makes about the existence of the subjects it mentions.

Modern Assumptions

Contemporary beliefs or presuppositions that influence one's perspective or argument, often taken for granted within a specific time period.

Traditional Assumptions

Established beliefs that are widely accepted without question or evidence.

Middle Term

In a syllogism, the term that appears in both premises but not in the conclusion, serving as a link between the other two terms.