34. A union can influence the equilibrium wage rate by: a. collective bargaining
ID: 1125821 • Letter: 3
Question
34. A union can influence the equilibrium wage rate by:
a. collective bargaining.
b. featherbedding.
c. lobbying for legislation to restrict immigration.
d. doing some or all the above.
37. Which of the following must a firm do to successfully price discriminate?
a. Divide buyers into different groups according to their willingness to pay.
b. Prevent resale of the good or service being offered.
c. Identify groups into which buyers fall.
d. All of the above answers are correct.
Question 4. The table below shows the marginal benefit to a paper mill of polluting a river and the marginal cost to residents who live downstream
What tax rate would result in the efficient quantity of pollution? (I'm sorry if this question is worded weirdly, gotta making due with what you're given.)
Quantity of pollution (tons per week)
Marginal benefit, $/ton
Marginal cost, $/ton
0
110
0
1
100
8
2
90
20
3
80
35
4
70
70
5
60
150
6
0
300
Quantity of pollution (tons per week)
Marginal benefit, $/ton
Marginal cost, $/ton
0
110
0
1
100
8
2
90
20
3
80
35
4
70
70
5
60
150
6
0
300
Explanation / Answer
34. The correct answer is: a. collective bargaining.
Reason: Option b) is incorrect as featherbedding can influence employment and not wages.
Option c) is incorrect as lobbying against regulations won't help influence equilibrium wages.
Hence, only option a) collective bargaining is the correct answer.
P.S. As per Chegg's policy, if nothing is mentioned, then only the first question is to be answered. So if other answers are required, then repost them mentioning the number of questions to be answered.
Thanks!
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