Workers who demand a wage that is higher than the equilibrium wage
A)Will find it difficult to secure a job.
B)Will easily secure a job.
C)Must belong to a union in order to secure a job.
D)Will never benefit from joining a union.

Question

Quizplus · Accepted Answer

Demand for labor is determined by employers, and they will generally only hire workers at the equilibrium wage. If workers demand a higher wage than what is offered, it may lead to unemployment as employers are less likely to hire workers at a higher wage. This is known as a surplus of labor. Joining a union may increase bargaining power and result in higher wages, but this is not always the case and is not necessary for securing a job.

Workers Who Demand a Wage That Is Higher Than the Equilibrium