Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter14: Labor Markets And Income
Section: Chapter Questions
Problem 3SCQ: Table 14.12 shows the quantity demanded and supplied in the labor market for driving city buses in...
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My dear good expert hand written not allowed.
![Consider two labor markets, an eastern state and a
western state, that enact different laws governing labor
unions.
The following graph illustrates the labor market for the
state in the East. Initially, the market-clearing hourly
wage is $24. Suppose that the government in this
eastern state passes a law that makes it easier for
workers to become union members. Through a process
of collective bargaining, the union negotiates an hourly
wage of $28.
Use the black point (plus symbol) to show how many
union workers will be employed at the $28 wage. (Hint:
Be sure to place the point on the appropriate curve.)
WAGE (Dollars)
40
36
32
28
24
16
12
8
4
0
0
4
3
Labor Market in the East
I
c
Supply Union Wage
12
16 20 24 28
LABOR (Millions of workers)
32 36 40
Union Negotiations
Su
E
Su](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa6a23065-454b-4609-883c-a06a57fca53b%2F8432930a-de2b-4970-a710-9da49b0f23e6%2F6nmr8xh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Consider two labor markets, an eastern state and a
western state, that enact different laws governing labor
unions.
The following graph illustrates the labor market for the
state in the East. Initially, the market-clearing hourly
wage is $24. Suppose that the government in this
eastern state passes a law that makes it easier for
workers to become union members. Through a process
of collective bargaining, the union negotiates an hourly
wage of $28.
Use the black point (plus symbol) to show how many
union workers will be employed at the $28 wage. (Hint:
Be sure to place the point on the appropriate curve.)
WAGE (Dollars)
40
36
32
28
24
16
12
8
4
0
0
4
3
Labor Market in the East
I
c
Supply Union Wage
12
16 20 24 28
LABOR (Millions of workers)
32 36 40
Union Negotiations
Su
E
Su
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