Union's bargaining power is reduced when the employer has a monopoly in the product or service market.

Question

Quizplus · Accepted Answer

Union's bargaining power is typically reduced when there is a monopoly in the labor market, not the product or service market. When an employer has a monopoly in the product or service market, it may have higher profits, potentially giving unions more leverage to negotiate better wages and conditions.

Union's Bargaining Power Is Reduced When the Employer Has a Monopoly