In most collective-bargaining negotiations, the workers , press for· higher wages while management holds out for lower compensation costs. This is a situation known as where there is but one buyer and o seller, The outcome of bilateral monopoly cannot be predicted by economic forces of costs and demands alone; it depends as well on psychology, politics, anti countless other intangible factors.

[av_button label='Get Any Economics Assignment Solved for US$ 55' link='manually,' link_target='' color='red' custom_bg='#444444' custom_font='#ffffff' size='large' position='center' icon_select='yes' icon='ue859' font='entypo-fontello']

Share This