The Demand for Unionized Labor Will Generally Be More Elastic

question 58

Multiple Choice

The demand for unionized labor will generally be more elastic, and it will be more difficult for the union to achieve above-equilibrium wages when

• A) there are many close substitutes for the unionized workers.
• B) trade barriers limit the importation of the product produced by the unionized workers.
• C) the cost of employing the unionized workers is a small part of the total cost of product that they produce.
• D) the demand for the product produced by the unionized workers is highly inelastic.

---

Definitions:

Immediate Gratification

The desire to experience pleasure or fulfillment without delay or deferment, often prioritizing short-term rewards over long-term goals.

Affective Forecasting

The process of predicting how one will feel in the future, often with a focus on emotional reactions to specific events.

Compensatory Responses

Physiological reactions that occur in opposition to the effects of a drug or stimulus to maintain homeostasis.

Average Emotions

The typical or mean level of emotional responses or feelings experienced by an individual or group over a period.