If a Firm Buys Its Labor in a Competitive Market,then

question 86

Multiple Choice

If a firm buys its labor in a competitive market,then in the short run,a decrease of the demand for the firm's product will cause the firm to

• A)offer a higher wage.
• B)hire fewer workers.
• C)hire more workers.
• D)offer a lower wage.

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Definitions:

Voice

A concept referring to the means by which employees can express concerns, grievances, or suggestions within the workplace.

Solidarity Unionism

A form of unionism that emphasizes the direct action and self-organization of workers, rather than formal recognition through collective bargaining agreements.

Servicing Model

A union strategy focused on providing services and support to members, such as legal assistance, rather than relying heavily on collective action.

Nonmajority Unions

Labor unions that represent a segment of employees and may not have exclusive bargaining rights for all workers in a particular workplace.