Which of the Following Is Not Correct

question 21

Multiple Choice

Which of the following is not correct?

• A)An organized withdrawal of labor from a firm by a union is called a strike.
• B)The power of a union comes from its ability to strike if the union and the firm do not agree on the terms of employment.
• C)Economists who study the effects of unions typically find that union workers earn about 25 to 35 percent more than similar workers who do not belong to unions.
• D)Workers in unions reap the benefit of collective bargaining,while workers not in unions bear some of the cost.

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Definitions:

Sunk Cost

Costs that have already been incurred and cannot be recovered or reversed.

Model 240 Machine

A hypothetical or specific name for a machine, possibly denoting a particular model or type used in manufacturing or industrial settings.

Contribution Margin

The amount of revenue remaining after deducting variable costs, available to cover fixed costs and contribute to profits.

Selling Price

The selling price of a product or service to buyers.