Which of the following is correct?
A)Nearly all economists believe that unions are bad for the economy as a whole.
B)Unionized firms pay wages above the competitive equilibrium level.
C)Unions increase the level of employment in unionized firms.
D)Unions decrease the level of employment in firms without unions.

Question

Quizplus · Accepted Answer

Unionized firms often pay wages above the competitive equilibrium level due to collective bargaining, which can lead to higher wages for union members compared to non-unionized workers.

Which of the Following Is Correct