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Chapter 29: Q. 1 (page 665)

Discuss three aspects of collective bargaining that society might deem desirable.

Short Answer

Expert verified

A society would be better off due to the relative aspects of collective bargaining.

Step by step solution

01

Step - 1   Introduction

Three features of negotiating that a society might find acceptable are as follows.

Negating trade agreements is mainly done through collective bargaining.

Employee difficulties are properly resolved through collective bargaining.

As a result, a society considers collective bargaining appealing.

Due to collective bargaining, employers cannot single out an individual. Employee's fundamental rights are protected by labor unions.

From a societal standpoint, this is advantageous.

02

Step - 2    Explanation

During collective bargaining, labor organization's take steps to persuade employers to improve the working environment.

As a result of the relative characteristics of collective bargaining, a society would be better off.

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Most popular questions from this chapter

Given the information in Problem 29-17, how much more or less do the firms in this industry spend, in total, on the labour employed each hour as a consequence of the establishment of the union wage WU= \(40 per hour above the equilibrium wage We= \)30 per hour?

Consider Figure 29-6. Suppose that the vertical distance to point A is \(50 per hour, that the value of Wm is \)20 per hour, and that Qm is 1,000 worker-hours. How much more or less each hour does the monopsonist have to pay each worker as an hourly wage rate to attract 1,000 worker-hours of labor input than the additional cost that the firm incurs in hiring the 1,000th unit of labor?

Why could unions' desire to obtain collective bargaining exemptions from minimum wage laws provide evidence that few employers are monopsonists? (Hint: Recall the effects of a minimum wage on the employment level of and wage rate paid by a monopsonist.)

Explain the impact of each of the following events on the domestic market for union labor.

a. Union-produced TV and radio commercials convince consumers to buy domestically manufactured clothing instead of imported clothing.

b. The union sponsors periodic training programs that instruct union laborers about the most efficient use of machinery and tools.

What is the amount of monopsonistic exploitation that takes place at the firm examined in Problem ?
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