If a Union Is Able to Decrease the Supply of Workers

question 333

Multiple Choice

If a union is able to decrease the supply of workers in a competitive labor market but the union cannot affect the demand for its members' labor, then

• A) wages and the quantity of labor hired will both increase.
• B) wages will increase but the quantity of labor hired will decrease.
• C) wages will decrease but the quantity of labor hired will increase.
• D) wages and the quantity of labor hired will both decrease.

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Definitions:

Property

Assets or possessions owned by an individual or entity, including both physical and intellectual properties.

Doctor

A qualified individual who practices medicine, diagnosing and treating diseases or injuries.

Title

Legal right to own, use, or sell a particular property or asset.

Right of Ownership

The legal right to possess, use, and dispose of property without unlawful constraint.