"Voluntary" (Also Called Permissive or Non-Mandatory)issues Involve Proposals Which Violate

question 20

True/False

"Voluntary" (also called permissive or non-mandatory)issues involve proposals which violate the law,and there is no legal duty to bargain over such an issue.

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Definitions:

One Buyer

A market condition known as a monopsony, where there is only one buyer for a particular product or service, giving that buyer significant control over prices.

Marginal Revenue

The extra revenue obtained from the sale of an additional unit of a product or service.

Substitutes

Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.

Elastic

A characteristic of demand or supply where the quantity demanded or supplied responds significantly to price changes.