A Single Union Firm in a Competitive Industry Otherwise Comprised

question 47

Multiple Choice

A single union firm in a competitive industry otherwise comprised of nonunion firms:

• A)will make economic losses if it pays a wage rate above its competitors
• B)will pay a higher union wage advantage than unionized firms in less competitive industries
• C)will make economic profits if it pays a wage rate equal to its rival firms
• D)will produce more output than its rival firms

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