Union leaders are in a worse position to bargain for higher wages if demand for labour is
A) perfectly Elastic
B) perfectly Inelastic
C) Very large
D) Permanent
Correct Answer:
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Q10: The price of capital is
A)money
B)Interest
C)profits
D)wages
Q11: If MRP > Price of the factor:
Q12: If MRP = Price of the factor:
Q13: If MRP < P of the factor,
Q14: The labor market equilibrium determines the wage
Q16: The concept of social optimum was introduced
Q17: An ethical or value judgement must be
Q18: According to Kaldor-Hicks compensation criteria, the proposed
Q19: The concept of Social Welfare function was
Q20: The first condition of which economist states
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