If a Genuine Change of Employer Exists but the Employing

question 52

Multiple Choice

If a genuine change of employer exists but the employing industry remains substantially the same, the successor employer ________.

• A) is required to recognize both the existing collective bargaining unit and its representative, and is bound by the agreement
• B) is required to recognize the existing collective bargaining unit and its representative, but is not bound by the agreement
• C) is not required to recognize the existing collective bargaining unit or its representative, and is not bound by the agreement
• D) is required to recognize the existing collective bargaining unit but not its representative, and is bound by the agreement

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Definitions:

Opportunity Costs

The value of the next best alternative forgone as a result of making a particular choice.

Production

The process of creating goods or services by combining various elements such as labor, technology, and raw materials.

Implicit Cost

The opportunity cost equal to what a firm must give up in order to use resources that it already owns without paying for them explicitly.

Firm's Debt

A firm's debt refers to the amount of money that the company owes to creditors. It is a key component of a company's capital structure.