Author Question: If a union is unable to increase the demand for its workers, then success at raising the wage rate ... (Read 89 times)

kamilo84 · **on:** Jun 29, 2018

If a union is unable to increase the demand for its workers, then success at raising the wage rate paid its members means that

A) all union members receive a higher wage.
B) some union members will lose their jobs.
C) more union members will be hired.
D) the union will push for a decrease in the minimum wage.

Question 2

The diamond-water paradox of value can be explained by

A) distinguishing between total utility and marginal utility.
B) water's high level of utility relative to diamonds.
C) water's low price relative to diamonds.
D) the fact that utility cannot be measured.