Question

In: Economics

When viewing unions as monopoly sellers of a​ service, the goals the unions may pursue include...

When viewing unions as monopoly sellers of a​ service, the goals the unions may pursue include all of the following except

A.

maximizing wage rates for certain workers.

B.

maximizing profits for the employers of union members.

C.

employment for all union members.

D.

maximizing gross income for its members.

Solutions

Expert Solution

Select A, C and D

Unions are formed to increase the overall benefits received by workers who are a part of union. This includes increasing the wage rate of union members, increasing the total wage bill and employment of all the members. Maximizing the gains of employers is not the goal of the union but of the management.

Rahul Sunny answered 1 year ago
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