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Total Wages
The sum of all wages paid to employees by an employer over a specific period, reflecting the labor cost in production or services.
Labor Union
An organization of workers formed to protect and advance their rights and interests.
Monopoly Power
The ability of a firm to influence or control the price and production of a good or service due to the lack of viable competition.
Major League Baseball
A professional baseball organization consisting of teams that play in the American League and the National League.
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