Multiple Choice
Which of the following will make the cutback in union labor for a given wage increase smaller?
A) an increase in the number of substitutes for union labor
B) an increase in the elasticity of demand for the product that labor produces
C) a decrease in the elasticity of demand for the product that labor produces
D) an increase in the total revenue for the product that labor produces
E) a decrease in the total revenue for the product that labor produces
Correct Answer:
Verified
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A) The
