Describe the impact on salary and employment in the company


Describe the impact on salary, employment in the company, and the economic welfare of the following input market structures. In which case will the deadweight loss be the smallest?

a. A labor union that controls the supply of workers to an industry consisting of many small firms

b. An output market monopolist who is the only employer of a particular type of labor

c. An output market monopolist who is the only employer of a particular type of labor supplied by a union that controls the entire supply of workers to the industry

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Business Economics: Describe the impact on salary and employment in the company
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