A Union Representative Observed That If the Union Members' Wages

question 200

Multiple Choice

A union representative observed that if the union members' wages were increased by some proportion, the workers would eventually suffer a greater than proportional decline in employment. This statement could best be explained if

• A) the new wages are to take effect immediately.
• B) union labor can easily be replaced with capital.
• C) union labor is an insignificant portion of the total cost of production.
• D) the demand for the final product the workers produce is relatively inelastic.

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Definitions:

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Key Comparisons

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A search technique where items are checked in sequence from the beginning to the end until the target is found or the list is fully traversed.

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