Posted: November 19th, 2016
Figure 8.8 (in your textbook) shows the effect of trade integration in the presence of collective bargaining. What would things look like in the absence of collective bargaining but when wages are downward-rigid?
Please answer the following questions from your textbook:
- Question # 2 under self-assessment in Chapter 6
Answer: 2. Use a 3-panel diagram, like Figure 6-6, to show how the number of firms, mark-up and firm size would change in a closed economy if the demand for a particular good rose, i.e. the demand curve shifted out.
- Question #2 under self-assessment in Chapter 7
- Question # 6 under essays in Chapter 8
- Figure 8.8 (in your textbook) shows the effect of trade integration in the presence of collective bargaining. What would things look like in the absence of collective bargaining but when wages are downward-rigid?
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