Which of the Following Is Correct

question 33

Multiple Choice

Which of the following is correct?

• A)In unionized industries,wages are below the level that would prevail in competitive markets.
• B)The introduction of a union in an industry increases the quantity of labor demanded in that industry,causes some workers in that industry to be unemployed,and increases wages in the rest of the economy.
• C)Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable.
• D)All of the above are correct.

---

Definitions:

Supply Curve

A graph that shows the relationship between the price of a good and the quantity of that good that producers are willing to supply.

Y Axis

The vertical line on a graph or chart, which typically represents the range of values for a variable being measured.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell, typically sloping upward.

Cotton Crop

Cotton crop refers to the cultivation of cotton plants for the harvesting of cotton fibers, which are used in the textile industry.