How closely does the labor market for the following types of workers approximate a perfectly competitive market? What if any are the major imperfections in each market?
Does a migrant farm worker get competitive wage rate or will he/she get whatever the farmer dictates?
Does a steelworker get competitive wage rate or whatever the corporation dictates?
Does a nurse get competitive wage rate or whatever the hospital sets?
Does a bank executive set his own wage rate - and if so why?
If we look at those who got their wages set by others then the obvious question would be why are they not able to dictate the wage rate?
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