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: wages of individual union members and the total (combined) income of union members to increase. wages of individual union members to increase and the total (combined) income of union members to decrease. wages of individual union members and the total (combined) income of union members to decrease. wages of individual union members to decrease and the total (combined) income of union members to increa

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
ChapterST9: Do Labor Unions Increases The Wages Of Workers?
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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:

 

wages of individual union members and the total (combined) income of union members to increase.

 

wages of individual union members to increase and the total (combined) income of union members to decrease.

 

wages of individual union members and the total (combined) income of union members to decrease.

 

wages of individual union members to decrease and the total (combined) income of union members to increase.

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