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What relationship exists between marginal factor cost (MFC) and wage for a monopsony firm?

What relationship exists between marginal factor cost (MFC) and wage for a monopsony firm?  Explain why this is so.

 

 

 

2.What is the difference between a union shop and a closed shop?  Are either (or both) legal in the United States?

 

 

3.Describe the difference between the traditional (or orthodox) view of labor unions and the labor-union-as-collective-voice view of labor unions with respect to the impact that unions have on productivity and efficiency.

Dec 09 2019 View more View Less

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