Author Question: On the supply side of the labor market, the union's success is limited by how much A) nonunion ... (Read 15 times)

Kthamas · **on:** Jun 29, 2018

On the supply side of the labor market, the union's success is limited by how much

A) nonunion labor is available in the same market.
B) employment union members will accept.
C) capital the firm utilizes.
D) all of the above

Question 2

The water and diamonds paradox of value

A) is that water is essential for life and yet is cheap, whereas diamonds are totally nonessential and yet are expensive.
B) points out that we generally have a low total utility of water and a high total utility of diamonds.
C) is resolved by the principle that market price is determined by total utility, not marginal utility.
D) none of the above