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Kinds of Bargaining arrangements
Basically there are three kinds of bargaining arrangements, namely:
Open Shop:
In an open shop a union represents its members, but does not have an exclusive bargaining jurisdiction for all workers of one kind. Membership in the unions is not condition of getting or keeping a job.
Closed Shop:
In this arrangement only union members may be employed and the union controls membership however it sees fit.
Union Shop:
The employer may hire anyone he chooses but every employee must join the union within a specified period.
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p=10, TC= 1000+2Q+.01Q^2, Q=?
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