If a Union Is Able to Bargain for a Wage

question 144

Multiple Choice

If a union is able to bargain for a wage that is higher than the equilibrium:

• A)all workers will earn a wage equal to their value of marginal product.
• B)some excess supply of labor or unemployment will generally result.
• C)compensating differentials will be erased.
• D)diminishing returns will not exist.

---

Definitions:

Lactase

An enzyme in the human body that breaks down lactose, a sugar found in milk and dairy products.

Lactose

A sugar that is the primary constituent of fresh milk.

Biological Diversity

Refers to the variety and variability of life forms within a given ecosystem, region, or on the entire planet. It encompasses the diversity of species, their genes, and the ecological complexes they are part of.

Melanin

A pigment found in skin, hair, and eyes that determines color and provides protection against ultraviolet light.