-Refer to the Above Figure $P _ { 1 }$ To $P _ { 2 }$

question 283

Multiple Choice

-Refer to the above figure.Suppose this industry was perfectly competitive and then merged into one monopolistic firm.The monopoly would

• A)raise price from \(P _ { 1 }\) to \(P _ { 2 }\) .
• B)reduce output from \(\mathrm { Q } _ { 3 }\) to \(\mathrm { Q } _ { 1 }\) .
• C)reduce output from \(\mathrm { Q } _ { 2 }\) to \(\mathrm { Q } _ { 1 }\) and raise price from \(\mathrm { P } _ { 3 }\) to \(\mathrm { P } _ { 4 }\) .
• D)raise price from \(P _ { 1 }\) to \(\mathrm { P } _ { 4 }\) .

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Definitions:

Unfair Labor Practice

Actions by employers or unions that violate the rights of employees or the provisions of labor laws.

Taft-Hartley Act

A 1947 U.S. law that restricts the activities and power of labor unions, including prohibiting certain types of strikes and requiring union leaders to swear they were not communists.

Section 9

In the context of labor relations, often refers to a portion of the National Labor Relations Act concerning the representation of employees for purposes of collective bargaining.

Union Satisfaction

Refers to the level of contentment among members of a labor union, typically regarding working conditions, wages, and the representation provided by the union leadership.