Consider the labor market for electricians. The demand curve is downward sloping and the supply curve is upward sloping. In this market, however, there is a strong labor union. Assume that the electrician's union is able to negotiate a new contract that substantially raises their member's wages. Select the correct statement. Fewer people want to work as electricians as the union increases wage. Firms hire the same number of electricians at both wages. The wage increase is unambiguously beneficial for all the electricians working before the wage increase. O A consequence of the union negotiating a higher wage is fewer jobs for electricians.
Consider the labor market for electricians. The demand curve is downward sloping and the supply curve is upward sloping. In this market, however, there is a strong labor union. Assume that the electrician's union is able to negotiate a new contract that substantially raises their member's wages. Select the correct statement. Fewer people want to work as electricians as the union increases wage. Firms hire the same number of electricians at both wages. The wage increase is unambiguously beneficial for all the electricians working before the wage increase. O A consequence of the union negotiating a higher wage is fewer jobs for electricians.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter11: Labor Markets
Section: Chapter Questions
Problem 6SQP
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Transcribed Image Text:Question 26 of 30
Consider the labor market for electricians. The demand curve is downward sloping and the supply curve is upward sloping. In
this market, however, there is a strong labor union. Assume that the electrician's union is able to negotiate a new contract that
substantially raises their member's wages.
Select the correct statement.
Fewer people want to work as electricians as the union increases wage.
Firms hire the same number of electricians at both wages.
The wage increase is unambiguously beneficial for all the electricians working before the wage increase.
O A consequer
of the union negotiating a higher wage is fewer jobs for electricians.
8:25 PM
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12/15/2021
a
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