refer to the diagram. an industrial (inclusive) union could increase employment in this labor market:

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24-11-2022
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refer to the diagram. an industrial (inclusive) union could increase employment in this labor market:

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RK99 RK99 · Answer 1 · 2022-11-26T09:16:17+01:00

In this labor market, an industrial (inclusive) union might boost employment by negotiating any wage rate between W1 and W4.

What is employment?

Employment is a partnership between two people that governs the delivery of compensated labor services.

One party, the employer, who may be a company, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in accordance with the terms of a contract in exchange for doing the job that has been allocated to them.

Employees perform work in exchange for pay, which may be made in the form of an hourly wage, piecework compensation, or an annual salary, depending on the nature of the work performed, the industry conditions in effect, and the bargaining power of the parties.

In some industries, employees could get stock options, bonuses, or gratuities.

According to the given diagram, in this labor market, an industrial (inclusive) union might boost employment by negotiating any wage rate between W1 and W4.

Therefore, in this labor market, an industrial (inclusive) union might boost employment by negotiating any wage rate between W1 and W4.

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