The Long-Run Supply Curve for a Competitive, Decreasing-Cost Industry Is

question 12

True/False

The long-run supply curve for a competitive, decreasing-cost industry is downward-sloping.

---

Definitions:

Authorization Cards

Documents signed by employees to indicate their wish to be represented by a union, often used in the process of forming a union within a workplace.

Collective Agreement

A written contract negotiated between an employer and a union representing the employees, outlining terms of employment.

Union Shop

Provision of the collective agreement that requires employees to join the union as a condition of their employment.

Compulsory Unionization

A policy or practice requiring all employees in a particular sector or company to become members of a union.