A Labor Union Is Likely to Seek All of the Following

question 313

Multiple Choice

A labor union is likely to seek all of the following EXCEPT

• A) economic improvements for their members.
• B) safer working conditions.
• C) increased competitiveness in the labor market.
• D) increased job security for its members.

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Definitions:

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced; it decreases as production increases.

Average Variable Cost

The total variable costs divided by the quantity of output produced.

Total Variable Costs

The sum of all costs that vary with output level, including costs for raw materials, labor, and other expenses that increase with production.

Output Increases

A situation in which the quantity of goods or services produced in an economy rises.