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RIGHT-TO-WORK LAW: A law preventing employers from making union membership a condition of employment. In other words, your boss can't forced you to join a union if you don't want to. There are two sides to this argument. On the one hand, workers should have the freedom to join a union or not based on the benefit to had from the union and perhaps their philosophical orientation towards unions. On the other hand, unions gain their strength by representing workers. Its negotiating position is hurt if it represents only a fraction of the workers. Moreover, any benefits a union gets for workers are enjoyed by its members (who pay dues) as well as nonmembers (who don't pay dues).
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FIXED COST In general, cost that does not change with changes in the quantity of output produced. More specifically, fixed cost is combined with the adjectives "total" and "average" to indicate the overall level of fixed cost or the per unit fixed cost. Fixed cost is incurred whether of not any output is produced. The contrast to fixed cost is variable cost, cost which does change with the quantity produced.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a flea market seeking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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A half gallon milk jug holds about $50 in pennies.
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"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected. " -- Steve Jobs, Apple Computer co-founder
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JPUBE
Journal of Public Economics
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