Labor unions try to meet their objectives by influencing the elasticity of demand for labor and the demand for labor. To influence these factors, they try to do all of the following except
A)reduce the availability of substitutes for the product they produce.
B)reduce the availability of substitute factors.
C)increase demand for the product they produce.
D)increase substitute factor prices.
E)reduce the nonmoney benefits of substitute factors.

Question

Quizplus · Accepted Answer

Labor unions focus on strategies that enhance the demand for their labor and reduce the availability of substitutes, both in terms of products and labor. Reducing nonmoney benefits of substitute factors (like work environment or job flexibility for other types of labor) is not a typical strategy used by unions. Instead, they focus on actions that directly impact wages, demand for their labor, and the cost or availability of alternative labor or products.

Labor Unions Try to Meet Their Objectives by Influencing the Elasticity