Labor Unions ________ Increases in the Minimum Wage Because an Increase

question 190

Multiple Choice

Labor unions ________ increases in the minimum wage because an increase in the minimum wage ________ the demand for union labor.

• A) support; increases
• B) support; decreases
• C) oppose; increases
• D) oppose; decreases
• E) support; has no effect on

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Definitions:

Variable Manufacturing Cost

Costs that vary directly with the level of production output, such as raw materials and direct labor costs.

Production Volume

The total quantity of goods or services produced by a business within a certain period.

Fixed Component

A portion of a cost that remains constant regardless of the level of production or sales volume, such as rent, salaries, and insurance.

Mixed Cost

A cost composed of a fixed and variable component, changing with the level of activity but also containing a constant element.