To increase the wages of its members, a labor union might attempt to

Question

Quizplus · Accepted Answer

Lowering the elasticity of demand for its labor and increasing the demand for union labor are strategies that can help increase wages. Lowering elasticity means that employers are less sensitive to wage increases, and increasing demand means more employers want to hire union labor, potentially driving up wages. Increasing the supply of union labor, however, could lead to an oversupply and potentially lower wages, so it is not a strategy to increase wages.

To Increase the Wages of Its Members, a Labor Union