If an electricians' union is successful in its attempts to restrict entry into that craft, it will shift

Question

Quizplus · Accepted Answer

If the electricians' union restricts entry into the craft, it will limit the supply of electricians, which will shift the supply curve to the left. This means there will be fewer electricians available at any given price, which also means that the price of electricians will increase. This would lead to higher wages for electricians, but it would also lead to a reduction in the number of electricians employed.

If an Electricians' Union Is Successful in Its Attempts to Restrict