Question

The contract curve represents options for a union contract that are A. Less efficient than the...

The contract curve represents options for a union contract that are

A. Less efficient than the union's preferred wage.

B. At a wage lower than the competitive market wage.

C. More efficient than the union's preferred wage.

D. Associated with levels of employment above the competitive level.

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Answer #1

Arrangement : Less effective than the association's favored compensation.

On the off chance that the two gatherings consent to an agreement that called for them to situate at point e, with We and Ee, the association is in an ideal situation since it is still on the equivalent U2 lack of concern bend; and the firm is likewise happier in light of the fact that it would now be able to achieve a more elevated amount of benefits given by isoprofit bend I1 .

Association wage is at first Wu however after contract - association wage is We.

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