Word: nonlaboring
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...increase-whether in wages or fringe benefits doesn't matter. The total output goes up to $102.5 million, or $2.5 million more than before. Labor costs increase by 2.5% of $40 million, or $1 million. That leaves an extra $1.5 million to be distributed between nonlabor costs and profits. So profits would increase along with wages...
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