The only explanation for union wages being higher than nonunion wages is that unions monopolize labor and restrict labor supply.

Question

Quizplus · Accepted Answer

Union wages may be higher than nonunion wages due to collective bargaining power and the ability to negotiate better pay and benefits, as well as improved working conditions and job security. It is not simply a matter of labor supply and monopolization.

The Only Explanation for Union Wages Being Higher Than Nonunion