Asked by
Rondel Hemerding
on Dec 10, 2024
Verified
A union representing a group of workers will tend to be stronger when
A) there are no good substitutes for the labor services of the unionized workers.
B) the domestic producers of the good produced by the unionized workers face intense competition from foreign suppliers of the good.
C) the cost of employing the unionized workers is a large part of the total cost of the product that they produce.
D) the demand for the good produced by the unionized workers is highly elastic.
Labor Services
The tasks and efforts provided by workers in exchange for wages.
Foreign Suppliers
Providers of goods and services from outside the buyer's country, often involved in international trade.
Elastic Demand
A situation in economics where the demand for a product changes significantly in response to changes in the price of that product.
- Understand the relationship between union strength, market conditions, and wage outcomes.
Verified Answer
MG
Learning Objectives
- Understand the relationship between union strength, market conditions, and wage outcomes.