Which of the following is true about the unions' supply curve of labor?
a. It shifts to the right because unions force firms to increase their employment.
b. It is horizontal at the wage rate established by the union.
c. Is the same as the marginal labor cost curve of the monopsonist.
d. It is steeper than a nonunion supply curve of labor.
e. It is downward sloping.
B
You might also like to view...
Total revenue for skis is at a maximum when the price elasticity of demand is
A) between 0 and 1. B) 1. C) greater than 1. D) 0.
If a good is price inelastic, a decrease in price will:
A) decrease total revenue. B) increase total revenue. C) not affect income. D) none of the above.
The price of gold should be ________ to the expected inflation rate
A) positively related B) negatively related C) inversely related D) unrelated
From a point inside the production possibility frontier, a. more of one good can be produced only by sacrificing some output of another good
b. it is possible to increase production of both goods. c. it is impossible to increase production of either good with current resources and technology. d. increased output of both goods can only occur if the production possibility curve shifts outward.