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Figure 19-6 -Refer to Figure 19-6. This Figure Depicts Labor Demand and Labor

Question 192

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Figure 19-6 Figure 19-6 -Refer to Figure 19-6. This figure depicts labor demand and supply for the widget industry. The equilibrium market wage is $15. Suppose a labor union forms and subsequently negotiates an hourly wage of $17.50. Which of the following statements about the impact of the union's formation on labor hours demanded is true? A) Labor hours demanded by widget firms will decrease by 10 hours. B) Labor hours demanded by widget firms will decrease by 15 hours. C) Labor hours demanded by widget firms will increase by 10 hours. D) Labor hours demanded by widget firms will increase by 15 hours.
-Refer to Figure 19-6. This figure depicts labor demand and supply for the widget industry. The equilibrium market wage is $15. Suppose a labor union forms and subsequently negotiates an hourly wage of $17.50. Which of the following statements about the impact of the union's formation on labor hours demanded is true?


A) Labor hours demanded by widget firms will decrease by 10 hours.
B) Labor hours demanded by widget firms will decrease by 15 hours.
C) Labor hours demanded by widget firms will increase by 10 hours.
D) Labor hours demanded by widget firms will increase by 15 hours.

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