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Suppose there is a competitive market for retail workers at a large shopping mall that is large ...

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Suppose there is a competitive market for retail workers at a large shopping mall that is large ...

Suppose there is a competitive market for retail workers at a large shopping mall that is large enough to constitute its own labour market. The labour demand curve is QD = 1000 - 20(w). The labour supply curve is QS = 400 + 40(w). Suppose that a union now successfully organizes the workers at this mall and obtains a wage rate of $11 (but does not affect the demand curve). The number of unemployed workers in this mall labour market becomes

▸ 80.

▸ 60.

▸ 20.

▸ 100.

▸ 40.

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Microeconomics

Edition: 17^th

Author: Ragan

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