The Perfectly Competitive Model Is Most Likely to Apply to a Labor

question 94

Multiple Choice

The perfectly competitive model is most likely to apply to a labor market in which

• A)many well-informed firms must negotiate with one dominant labor union
• B)there are a few firms,and they are uninformed about the attributes of each worker
• C)there are many workers currently in the market who must negotiate with one dominant firm
• D)there are many well-informed workers and firms,and each worker appears the same to firms
• E)one dominant labor union must negotiate with one dominant firm

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Definitions:

Interactional Justice

A concept in organizational behavior that concerns the quality of the interpersonal treatment people receive when organizational procedures are implemented.

Interpersonal Treatment

The manner in which individuals interact with and behave towards one another in a social or professional setting.

Downsizing Decision

An organizational strategy to reduce workforce size, operational costs, and complexity by eliminating positions or departments.

Outsourcing

The practice of contracting out certain business functions or processes to a third-party provider.