Refer to the figure above. What is the equilibrium wage rate and equilibrium level of employment?

Suppose that a college student receives an offer for a summer internship with a stock brokerage firm. Unfortunately for the student, the internship is unpaid. Is it ever economically beneficial to accept an unpaid job?

a. Yes, because the experience gained during the internship would increase the student's human capital. b. No, because the opportunity cost is too high. c. No, because the student is signaling to future employers that he or she is willing to accept low wages. d. Yes, because accepting an unpaid job signals to future employers that the student has stable personal finances.

The ultimate weapon of management in bargaining with labor is the ability to take a _______.

What will be an ideal response?