Figure 14.3 A Labor Union Is Exercising Monopoly Power in the Labor

Multiple Choice

Figure 14.3
A labor union is exercising monopoly power in the labor market.
-Refer to Figure 14.3. To maximize economic rent, the labor union will agree to wage rate:

A) W₀.
B) W₁.
C) W₂.
D) W₃.
E) none of the above