Which of the Following Union Tactics, If Successful, Would Increase

question 115

Multiple Choice

Which of the following union tactics, if successful, would increase wages and create a surplus of labor?

• A)collective bargaining to fix the wage above the competitive level
• B)decreasing the marginal revenue product of the union workers
• C)increasing the demand for union-made products
• D)restricting the supply of nonunion products that compete with union-made products
• E)increasing labor productivity by minimizing conflicts and resolving differences between labor and management

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Definitions:

Income Elasticity

A measure of how much the demand for a good changes in response to a change in consumers' income.

Cross-Price Elasticity

A measurement of how the quantity demanded of one good responds to a change in the price of another good.

Negative

A term often indicating a subtraction, a deficit, or an unfavorable outcome in various contexts.

Unrelated Goods

denotes two or more goods that have no direct connection in consumption or production, implying no cross-price elasticity between them.