Solved: Determine the length of strike and percentage wage increase, Macroeconomics

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Determine the length of strike and percentage wage increase

Problem

Suppose that the employer concession schedule is W = 1 + .02S and the union resistance curve is W = 5 + .02S - .01S², where W = the percentage wage increase and S = the expected strike length in days. Using Hicks's simplest model, determine the length of the strike and the percentage wage increase.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: Determine the length of strike and percentage wage increase

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Macroeconomics: Determine the length of strike and percentage wage increase

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