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Suppose the Firm's Demand for Labor Is LD= 100 -

Question 14

Multiple Choice

Suppose the firm's demand for labor is LD= 100 - W.The supply of labor is perfectly elastic at a wage of $20.If a monopoly union's goal is to maximize total rents (= [WU - $20] × L) ,what wage will it seek?


A) $20
B) $40
C) $60
D) $80

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