If an Industrial Union Would Strike If It Does Not

question 20

Multiple Choice

If an industrial union would strike if it does not receive a particular wage rate, then the supply curve of labor in this market

• A)is horizontal at that particular wage rate until it intersects the original supply of labor curve
• B)is vertical at that particular wage rate until it intersects the original supply of labor curve
• C)shifts to the left
• D)disappears
• E)slopes downward

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Definitions:

Appropriation

The act of taking something for one's own use, generally without the owner's permission.

Exclusive Right

A legal provision granting someone the sole permission to engage in a particular activity or use a specific property.

Law of Torts

The body of laws governing civil wrongs that allow the injured party to receive compensation from those responsible for causing the harm.

Reallocates Losses

describes the process of redistributing financial burdens or losses, often seen in insurance, investment, or risk management contexts, to adjust the impact on involved parties.