If an electricians' union is successful in its attempts to restrict entry into that craft,it will shift _____

Question

Quizplus · Accepted Answer

If a union restricts entry into a craft, it decreases the supply of available workers. Therefore, the supply curve for electricians will shift to the left. This will result in a higher equilibrium wage for electricians, but it may also lead to higher unemployment among those who are unable to enter the profession. The demand curve for electricians is not affected by union activity.

If an Electricians' Union Is Successful in Its Attempts to Restrict