Your scenario presumes that said cartel covers all the corporations in the industry, otherwise employees would go to places with better working conditions, unless the the places with worse working conditions paid more to compensate.
That was my attempt to describe what is essentially a 3-dimensional labor supply function in words, hope it wasn’t to confusing.
Your scenario presumes that said cartel covers all the corporations in the industry, otherwise employees would go to places with better working conditions, unless the the places with worse working conditions paid more to compensate.
That was my attempt to describe what is essentially a 3-dimensional labor supply function in words, hope it wasn’t to confusing.