Lecture Issues in economics today - Chapter 42: Unions
Lecture Issues in economics today - Chapter 42: Unions
In this chapter, students will be able to understand: Describe why labor unions exist and model how they alter the bargaining relationship between employers and employees; distinguish between a competitive labor market and one where there is market power only with the employer, only with the employee, and when both have power; differentiate between labor unions that seek to raise wages by reducing supply and those that seek to raise wages by using collective bargaining as a monopolist;...