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will be in a position to demand even higher wages, Then, employers will again compensate by Jeff Dunham you laugh I laugh you cry I cry you offend my Kansas City Chiefs I kill you shirt causing prices to spiral upwards. When worker’s wages increase, nominal demand increases because workers make more money, and have more to spend. But also increasing will be the nominal cost of production, due to those same wage increases. We do not have a situation where, if we went from a perfectly completitive market to a monopoly, there would only be a one time jump in prices and no more. Instead we would have a situation where prices could continue to increase. And it would not be an absolute thing either.
Workers’ bargain power differs depending on Jeff Dunham you laugh I laugh you cry I cry you offend my Kansas City Chiefs I kill you shirt so the level of unemployment that gives workers bargaining power, and how much bargaining power it gives them, varies. And the confidence that employers have in raising prices depends on how much monoply power they have. Just like with workers bargaining power, monopoly power is a matter of degree. I was 14 and riding my bike home from school when I got a phone call from my mom. My youngest sister, who was 8 at the time, had been in a car accident and was on her way to the hospital. I was awestruck and didn’t know what to say, so I simply rode home after and told my younger siblings. My brother O and my second youngest sister S are both sensitive people, but they often appear very stoic and witty on the outside. When I told them about B’s accident, they were stunned before they began to cry. Both of them.