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Question
If the goal of the union is to maximize member income, then
A) a wage rate will be set in the inelastic portion of the demand curve.
B) a wage rate will be set at the point at which the elasticity of demand equals 1 and marginal revenue is positive.
C) a wage rate will be set at the point at which marginal revenue equal zero.
D) the supply of labor must be inelastic.
Answer
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Related questions
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