Q1、The labor market in a specific geographic area consists of one dominant employer and workers who are represented by a union. Compared to the wage rate and quantity of labor employed that would prevail in a competitive market, it is most likely that the outcome will be: A) a lower wage rate, but more workers will be hired. B) determined by bargaining between the two sides. C) a higher wage rate, but fewer workers will be hired.
Q2、Compared to the competitive level of employment, a monopsonist employer hiring non-union workers most likely: A) hires more workers and pays a lower wage. B) hires fewer workers and pays a higher wage. C) hires fewer workers and pays a lower wage.
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