Which of the following correctly supports the argument for the presence of unions in an industry?
A) Unions counteract the monopsony power of big firms in the labor market.
B) As a result of negotiations by unions,employment in the industry is higher than it would have been without a union.
C) Any inefficiency arising from the presence of a union is outweighed by the benefits of unions.
D) The presence of unions does not lead to a deadweight loss in the labor market.
Correct Answer:
Verified
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