If Two Resources Are Highly Substitutable for One Another

question 113

Multiple Choice

If two resources are highly substitutable for one another,

• A) a decrease in the price of one will increase unit costs of production.
• B) an increase in the price of one will increase the demand for the other.
• C) an increase in the price of one will reduce the demand for the other.
• D) a decrease in the price of one will increase the demand for the other.

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Definitions:

Associate Union Membership

Alternative form of union membership in which members receive discounts on insurance and credit cards rather than representation in collective bargaining.

Collective Bargaining

The process of negotiation between employers and a group of employees (often represented by a union) aimed at reaching agreements to regulate working conditions, wages, and benefits.

Consent Election

A method used by workers to form a union in which they express their desire to unionize through signed authorization cards.

Decertification Election

A process by which employees can vote to remove the representation of a labor union.