Which of the Following Activities Increases the Demand for Union

question 33

Multiple Choice

Which of the following activities increases the demand for union labour?

• A) A decrease in the minimum wage
• B) Additional job training for union members
• C) An increase in immigration
• D) An increased desire by consumers to buy imports

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Definitions:

Marginal Cost

The cost incurred by producing one more unit of a product, essential for decision-making in production and pricing strategies.

Perfect Competitor

An ideal market condition where numerous small firms compete against each other, and goods are sold at their marginal cost.

Long Run

A period in economic theory where all factors of production and costs are variable, allowing companies to adjust to market conditions fully.

Perfect Competitor

A theoretical market structure where many firms sell an identical product, entry and exit from the market are easy, and no single seller can influence the market price.