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Refer to the above labor market diagram where d is

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125. Refer to the above labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. If an inclusive union was able to get the monopsonist to pay a $6 wage rate, then: A. the supply curve would be perfectly elastic for the first four workers, but the MRC curve would be unaffected. B. the supply curve would be perfectly elastic for all workers and the MRC curve would coincide with it. C. the supply curve would be perfectly elastic for the first four workers and the MRC would be $6 for the first four workers. D. eight workers would be hired. AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-4 McConnell - Chapter 13 #125 Topic: Union models and licensure 126. Refer to the above labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. An inclusive union could increase the level of employment above that which the monopsonist would provide if it could get the monopsonist to agree to any wage rate: AACSB: Reflective Thinking Skills Blooms: Analysis Learning Objective: 13-4 McConnell - Chapter 13 #126 Topic: Union models and licensure 127. Minimum-wage legislation is less likely to have adverse effects on employment when the: AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-4 McConnell - Chapter 13 #127 Topic: Minimum wage 128. Critics of minimum-wage legislation argue that it: AACSB: Reflective Thinking Skills Blooms: Knowledge Learning Objective: 13-4 McConnell - Chapter 13 #128 Topic: Minimum wage 129. Many economists are critical of the minimum wage because they believe that it: A. hurts the efforts of labor unions. B. reduces the number of available job opportunities. C. conflicts with policies designed to equalize the distribution of income. D. causes labor shortages in affected markets. AACSB: Reflective Thinking Skills Blooms: Knowledge Learning Objective: 13-4 McConnell - Chapter 13 #129 Topic: Minimum wage
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