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15 questions from this quiz
Variations in wages across workers
Only one buyer in the market
Organized worker association
One supplier and one buyer
Increased productivity & scarcity
Higher wages via bargaining power
Higher pay for unpleasant jobs
Education raises productivity & wages
Sets lower wages than competitive
Allocative inefficiency
Union negotiates for members
Through negotiation/bargaining
Where labour demand = supply
Makes labour more valuable
Increases labour supply
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