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Discuss the impact on wages, employment in the industry, and the economic welfare of the following input market structures. In which case will the deadweight loss be the smallest?
a. A labour union that controls the supply of workers to an industry consisting of many small firms
b. An output market monopolist who is the only employer of a particular type of labour
c. An output market monopolist who is the only employer of a particular type of labour supplied by a union that controls the entire supply of workers to the industry
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