Labor union or a minimum salary law efficiently

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Reference no: EM1336090

Question about Perfectly Competitive Firm

Could a labor union or a minimum wage law efficiently help to raise wages, increase employment, or improve working conditions in a firm that is: a) a perfectly competitive firm in both the product market and the resource market? Explain.
b) an imperfectly competitive firm in both the product market and resource market?
Explain.

Reference no: EM1336090

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