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A survey of Part II
The labor market with labor unions
Further comparisons of wv and vvM
13 other sections not shown
absenteeism assume assumption average wage blue-collar business cycle capital capital deepening ceteris paribus Chapter competitive compute constant consumer surplus cost credentials discrimination earnings effect employed employers employment equilibrium wage curve estimate example factor of production function high school high-quality labor hire hypothesis impact of unions income increase industry labor force labor market labor of quality labor quality labor unions less log slope long-run equilibrium low-quality labor low-quality workers lower marginal physical product marginal social product marginal value product market wage Marshallian measured L(T minimum wage MPP curves nonunionized firms occupation paid partial equilibrium perfect competition product of q proportion quality labor quality of labor quality q quality sensitivity ratio real wage regression returns to scale sector shift skilled standards Suppose Table task technique Theorem theory tion unionized equilibrium unionized firms upgrading wage bill wage structure workforce