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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
198 Chapter 8
at the same time, it has caused a fall in employment from OL
2
to OL
1
. Since union creates excess supply
of labour to the extent of JK = L
1
L
3
, and the unemployed labour (JK) would be prepared to work at a
wage rate lower than the union wage rate (W
2
), there is a possibility of wage cutting. But labour union
would not allow the unemployed to accept a lower wage rate. So a higher wage rate at OW
2
would
remain stable.
WAGE DETERMINATION UNDER BILATERAL MONOPOLY: THE
CASE OF COLLECTIVE BARGAINING
e case of a bilateral monopoly
6
is said to exist in the factor market when there is a single buyer (the
product monopolist being ...
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Publisher Resources

ISBN: 9788131797655