Multiple Choice
The demand for unionized labor will generally be more elastic, and it will be more difficult for the union to achieve above-equilibrium wages when
A) there are many close substitutes for the unionized workers.
B) trade barriers limit the importation of the product produced by the unionized workers.
C) the cost of employing the unionized workers is a small part of the total cost of product that they produce.
D) the demand for the product produced by the unionized workers is highly inelastic.
Correct Answer:

Verified
Correct Answer:
Verified
Q53: As market price increases, in the short
Q54: If factor prices rise as demand increases
Q55: Which of the following states had the
Q56: The price-taker firm should discontinue production immediately
Q57: Use the figure to answer the following
Q59: Use the figure to answer the following
Q60: Use the figure to answer the following
Q61: Competitive price-taker markets are characterized by<br>A) low
Q62: The textile industry is composed of a
Q63: In some industries, like insurance, both small