The Hicks Paradox concerns the irrationality of
A) unions.
B) union dues.
C) strikes.
D) substituting low-skill labor for high-skill labor.
E) negotiating additional fringe benefits for union workers at the cost of receiving lower wages.

Question

Quizplus · Accepted Answer

The Hicks Paradox refers to the seemingly irrational behavior of workers going on strike, as it involves sacrificing current wages in hopes of achieving potentially better future conditions or wages.

The Hicks Paradox Concerns the Irrationality of