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If a Labor Union Tries to Reduce the Availability of Substitutes

Question 99

Multiple Choice

If a labor union tries to reduce the availability of substitutes for the product it sells, it is attempting to affect the __________ for labor. But if it tries to increase substitute factor prices, it is attempting to affect the __________ labor.


A) elasticity of demand; supply of
B) demand; elasticity of demand for
C) elasticity of demand; demand for
D) demand; supply of

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