A-LevelEconomicsLabour MarketOct/Nov 2018Paper 3 Q171 Mark
The diagram shows the costs and revenue curves in the labour market for a firm in imperfect competition. [Figure 17.1] Initially the firm is at an equilibrium in the factor market. What will happen to the wage rate and employment if a trade union negotiates a wage of W? A fall from W3 to W remain the same at OR B fall from W4 to W increase from OQ to OR C rise from W1 to W increase from OQ to OR D rise from W1 to W remain the same at OQ
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