Profit-making firms must pay wages

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Reference no: EM131113466

As a result of the American workers' ability to sell their labor though a union, profit-making firms must pay wages:

exceeding the equilibrium wage those firms would otherwise have selected.

at the intersection of the demand and supply labor curves.

below the equilibrium wage level those firms would otherwise be able to pay.

that match the preferred equilibrium wage these firms have selected.

Reference no: EM131113466

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