Problem
1. Discuss how both unions and firms can be better off if they move off the demand curve. Derive the contract curve.
2. Discuss the difference between efficient contracts and strongly efficient contracts.
3. What is the Hicks paradox?
4. Describe how employers "choose" the optimal length of a strike in a model where there is asymmetric information.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.