A Union Leader Told Its Membership That a Wage Increase,while

question 51

Multiple Choice

A union leader told its membership that a wage increase,while resulting in some layoffs,would nonetheless increase the total incomes of its membership.The firm replied that a wage increase would reduce the total incomes of its membership.We can conclude that:

• A)both the firm and the union believe that labor demand is inelastic,but for different reasons
• B)both the firm and the union believe that labor demand is elastic,but for different reasons
• C)the union believes that labor demand is elastic while the firm believes it to be inelastic
• D)the union believes that labor demand is inelastic while the firm believes it to be elastic

---

Definitions:

Objectives And Goals

Specific, measurable, achievable, relevant, and time-bound targets set by an individual or organization aimed at achieving a desired outcome.

Desired Outcomes

The specific goals or results that an individual or organization aims to achieve.

Procedures

Established methods or sequences of actions for accomplishing a task or solving a problem.

Policies

Guidelines or principles that govern the operations and decision-making processes within an organization.