Bilateral monopolies determine wages and level of employment when compared to the competitive labor market, in an indeterminate manner.
What is an indeterminate wage level policy?
This refers to the fact that the wages in a bilateral monopoly have no set way of being determined because the factors affecting employment can change based on the goods being produced.
Some goods will lead to wages and level of employment being quite competitive like the competitive labor market, while others will lead to low levels of competition which would lead to higher wages.
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