Which of the Following Activities Increases the Demand for Union

question 381

Multiple Choice

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

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

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Definitions:

Marginal Costs

The additional cost incurred by producing one more unit of a product or service, crucial for decision-making in economics and business.

Property Rights

The legal rights to possess, use, and dispose of assets, property rights are foundational to free market economies and influence resource allocation and investment.

Marginal Benefits

The additional satisfaction or utility gained from consuming or using one more unit of a good or service.

Marginal Social Cost

The total cost to society of producing one additional unit of a good or service, considering both the direct costs and any externalities.