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In competitive markets, there are many firms trying to hire employees with the same skill set. As a result, each individual firm will not control the wages very much.
Microeconomics: Principles, Problems, & Policies, 20th Edition
by McConnell, Campbell; Brue, Stanley; Flynn, Sean
Published by
McGraw-Hill Education
ISBN 10:
0077660811
ISBN 13:
978-0-07766-081-9
Chapter 15 - Wage Determination - Discussion Questions - Page 350: 2
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