Which of the Following Will Reduce the Cutback in Union

question 34

Multiple Choice

Which of the following will reduce the cutback in union labor for a given wage increase?

• A)an increase in the number of substitutes for union labor
• B)an increase in the elasticity of demand for the product that labor produces
• C)a decrease in the elasticity of demand for the product that labor produces
• D)an increase in the total revenue for the product that labor produces
• E)a decrease in the total revenue for the product that labor produces

---

Definitions:

Null Hypothesis

A statistical assumption that indicates no effect or no difference in a particular context, used as a starting point for hypothesis testing.

P-value

A statistical measure that helps scientists determine the significance of their research results by comparing the observed data against a specific hypothesis.

P-value

A statistical measure that indicates the probability of the observed data (or something more extreme) under the assumption that the null hypothesis is true.

Null Hypothesis

A statement used in statistics that proposes no significant difference or effect.