Use the following to answer question(s) : Labor Market
-(Exhibit: Labor Market) Given competitive market demand curve D and initial union members supply curve S, the effect of the union successfully restricting entry into the factor market is illustrated by a:
A) new demand curve FTD′.
B) new supply curve FTS.
C) new supply curve GVS′.
D) shift in the supply curve to S′.
Correct Answer:
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