Multiple Choice
Many unions attempt to raise the hourly wages received by their members by restricting the supply of workers firms can hire from.Assuming the demand for workers who belong to these unions is inelastic,this would cause:
A) wages of individual union members to decrease and the total (combined) income of union members to increase.
B) wages of individual union members and the total (combined) income of union members to decrease.
C) wages of individual union members to increase and the total (combined) income of union members to decrease.
D) wages of individual union members and the total (combined) income of union members to increase.
Correct Answer:

Verified
Correct Answer:
Verified
Q70: While the demand for beer is relatively
Q71: Observations of consumer behavior suggest that when
Q72: Suppose the demand for meals at a
Q73: When a consumer moves from a lower
Q74: For a particular product,a demand elasticity is
Q76: Which of the following is not a
Q77: According to the text,the price elasticity of
Q78: In the case of a linear demand
Q79: Which of the following statements is correct
Q80: Assuming the demand curve in question is