Assume the effects on salaries and employment

Reference no: EM1336105

Situational effect on wages

According to economist Albert Rees, there is evidence that agreements sometimes exist "among employers not to raise wages individually or not to hire away each other's employees...Except in the unusual case of professional sports, however, these agreements must be very difficult to enforce.

Analyze the effects on wages and employment of such agreements. Also, indicate some of the reasons why they may be difficult to enforce.

Reference no: EM1336105

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