Answered: Use a graph to demonstrate the likely…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter27: Wages, Unions, And Labor

Section: Chapter Questions

Problem 3QP

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Use a graph to demonstrate the likely bargaining outcomes of three industries, all with identical union resistance curves.
a. Firm A has been losing money recently as wages and fringe benefits have risen from 63 to 89 percent of all costs in just the last three years.
b. Most of firm B’s revenues come from supplying a product to three customers who use the product in their manufacturing of computers using a just-in-time inventory system.
c. Firm C is a local government that finds itself negotiating with its unionized employees. Government officials are pleased with the employees’ productivity, but they also face local pressure to keep taxes low.

Definition Definition Benefits in addition to compensation that companies give to their employees. Fringe benefits can boost morale and productivity and keep employees motivated. Companies often use fringe benefits as a competitive advantage to recruit and retain employees. Examples of fringe benefits include pensions, vacation time, tuition reimbursement, free or subsidized meals, and gym memberships.

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