Unions Contribute to

question 9

Multiple Choice

Unions contribute to

• A)frictional but not structural unemployment.
• B)structural but not frictional unemployment.
• C)both frictional and structural unemployment.
• D)neither frictional nor structural unemployment.

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Definitions:

Total Cost

The combined amount of all costs incurred during the production of goods or services, incorporating fixed and variable expenditures.

Average Fixed Cost

Costs of production that are stable (not varying with output amount) allocated across the number of units produced.

Fixed Cost

describes expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Variable Cost

Costs that change in proportion to the level of activity or volume of production in a business.