Which of the Following Is Provided by the National Labor

question 3

Multiple Choice

Which of the following is provided by the National Labor Relations Act of 1935?

• A) right to regulate internal affairs of each union
• B) right to represent employees according to their sectors of employment
• C) right to bargain collectively with employers
• D) right to equally represent every union member

Distinguish between economic profit, normal profit, and loss scenarios for competitive firms.

Understand the concept of optimal allocation of scarce resources in a purely competitive industry.

Describe conditions for long-run equilibrium in a purely competitive firm.

Identify the features indicating productive efficiency and allocative efficiency in pure competition.

---

Definitions:

Wire Fence

A barrier made from wire strands to enclose an area, often used for securing property boundaries.

Failed to Lock

An unsuccessful attempt to secure or fix in place, often referring to security measures or mechanisms.