If a Union Is Able to Bargain for a Wage

question 106

Multiple Choice

If a union is able to bargain for a wage that is higher than the equilibrium:

• A) all workers will earn a wage equal to their value of marginal product.
• B) some excess supply of labour or unemployment will generally result.
• C) compensating differentials will be erased.
• D) diminishing returns will not exist.

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